Riyad Bank Saudi Arabia's PMI increased for the third consecutive month, reaching 56.9 in October 2024, up from 56.3 in September. This marks the fastest growth in the non-oil private sector since April, driven by a sharp rise in sales, which supported further expansion in business activity, employment, and stock levels. New orders saw their highest level since March, driven by strong domestic demand and effective marketing. Employment also rose for the sixth month in a row, keeping workloads manageable. Meanwhile, purchasing activity increased in October from September's three-year low, though at a slower pace compared to a year earlier, while inventories rose sharply as firms reported sufficient stock levels. On prices, input costs rose due to higher material and wage expenses, leading to the first increase in average prices charged in four months. Finally, business sentiment remained strong, bolstered by economic stability and ongoing infrastructure projects under Vision 2030. source: S&P Global

Manufacturing PMI in Saudi Arabia increased to 56.90 points in October from 56.30 points in September of 2024. Manufacturing PMI in Saudi Arabia averaged 56.29 points from 2011 until 2024, reaching an all time high of 61.80 points in September of 2014 and a record low of 42.40 points in March of 2020. This page provides the latest reported value for - Saudi Arabia Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Saudi Arabia increased to 56.90 points in October from 56.30 points in September of 2024. Manufacturing PMI in Saudi Arabia is expected to be 55.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Related Last Previous Unit Reference
Changes in Inventories -16021.00 -6177.00 SAR Million Jun 2024
Corruption Index 52.00 51.00 Points Dec 2023
Corruption Rank 53.00 54.00 Dec 2023
Crude Oil Rigs 33.00 32.00 Oct 2024
Industrial Production YoY -0.30 2.90 percent Sep 2024
Industrial Production Mom -1.20 1.80 percent Sep 2024
Manufacturing Production 6.70 6.40 percent Sep 2024
Mining Production 0.00 0.80 percent Sep 2024

Saudi Arabia Non-Oil Private Sector PMI
In Saudi Arabia, the seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index measures the performance of companies in non-oil private sector and is derived from a survey of 400 companies, including manufacturing, services, construction and retail. The Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the non-oil private sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.


News Stream
Saudi Non-Oil Private Sector Growth at 6-Month High
Riyad Bank Saudi Arabia's PMI increased for the third consecutive month, reaching 56.9 in October 2024, up from 56.3 in September. This marks the fastest growth in the non-oil private sector since April, driven by a sharp rise in sales, which supported further expansion in business activity, employment, and stock levels. New orders saw their highest level since March, driven by strong domestic demand and effective marketing. Employment also rose for the sixth month in a row, keeping workloads manageable. Meanwhile, purchasing activity increased in October from September's three-year low, though at a slower pace compared to a year earlier, while inventories rose sharply as firms reported sufficient stock levels. On prices, input costs rose due to higher material and wage expenses, leading to the first increase in average prices charged in four months. Finally, business sentiment remained strong, bolstered by economic stability and ongoing infrastructure projects under Vision 2030.
2024-11-05
Saudi Non-Oil Private Sector Growth at 4-Month High
Riyad Bank Saudi Arabia's PMI increased for the second consecutive month, reaching 56.8 in September 2024, up from 54.8 in August. This marks the fastest growth in the non-oil private sector since May, driven by faster expansions in output and new orders, alongside a solid rise in employment. New orders grew at their strongest pace in four months, primarily boosted by robust domestic demand. Employment also increased solidly, with backlogs of work rising, though only slightly. However, purchasing growth eased to its lowest level in three years, as inventories continued to rise sharply, while delivery times improved, albeit at the slowest pace since August 2023. In terms of prices, input costs rose due to higher material prices, technology costs, and wages. Meanwhile, selling prices declined for the third consecutive month, amid heightened competition, despite a solid rise in business costs. Finally, business sentiment improved supported by economic stability.
2024-10-03
Saudi Non-Oil Private Sector Growth Accelerates
Riyad Bank Saudi Arabia's PMI increased for the first time in six months to 54.8 in August 2024 from July’s 2-1/2-year low of 54.4, as employment advanced the most in a decade while new orders continued to grow, with a solid rise in foreign sales. However, the index was still at one of its lowest levels since the beginning of 2022 and below its long-run average of 56.9. Purchasing activity and stock levels were also elevated amid stronger business expectations and a slight pick-up in growth of new orders. On prices, input cost inflation eased to its lowest since July 2023, as purchase costs moderated to the weakest in three years. Meanwhile, output cost fell for the second month running amid an effort to stimulate sales. Lastly, business sentiment strengthened to a five-month high amid a rise in output expectations and a hope of improving market demand.
2024-09-03