Palm trees and buildings in Saudi Arabia

Saudi Arabia PMI October 2021

Saudi Arabia: Non-oil PMI moderates in October, but remains healthy nonetheless

The Purchasing Managers’ Index (PMI), produced by IHS Markit, ticked down from 58.6 in September to 57.7 in October. Consequently, the index remained above the 50-threshold, indicating a more moderate improvement in business activity in the non-oil private sector relative to the month prior.

October’s deceleration reflected weaker growth in new orders, but demand remained strong due to looser Covid-19 restrictions and stronger foreign demand in the month. Meanwhile, output growth accelerated in October relative to the previous month, while employment levels increased after stagnating in September.

David Owen, an economist at IHS Markit, commented on the current price dynamics among suppliers:

“The rate of purchase cost inflation sharpened during October, giving further signs that rising commodity prices are feeding through to firms’ balance sheets. With confidence towards sales prospects running strong, businesses were able to pass on costs to customers with the quickest rise in output prices since August 2020.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest