The Stanbic IBTC Bank Nigeria PMI rose slightly to 53.6 in March 2019 from 53.3 in the previous month. Output growth quickened while new orders rose the least in 16 months. Also, employment increased for the twenty-third successive month, although modestly. On the price front, inflationary pressures remained muted, as input inflation was the slowest in a year-and-a-half and output inflation was at a eight-month low. Looking ahead, business confidence remained strong and above the series average, amid prospects of new financial investment and business expansion plans. Composite Pmi in Nigeria is reported by Markit Economics.

Composite Pmi in Nigeria is expected to be 54.40 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Nigeria to stand at 54.00 in 12 months time. In the long-term, the Stanbic IBTC Bank Nigeria PMI is projected to trend around 53.00 in 2020, according to our econometric models.

Stanbic IBTC Bank Nigeria PMI
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Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 28.20 22.10 41.10 -29.00 Index Points [+]
Industrial Production -11.00 -3.30 20.10 -20.40 percent [+]
Manufacturing Production -1.70 1.30 24.60 -7.00 percent [+]
Internet Speed 3853.93 4129.28 4129.28 348.64 KBps [+]
IP Addresses 209207.00 194830.00 244394.00 29604.00 IP [+]
Leading Economic Index 45.90 45.50 53.00 45.50 percent [+]
Manufacturing Pmi 57.40 57.10 61.10 41.90 [+]
Ease of Doing Business 146.00 145.00 170.00 120.00 [+]
Corruption Index 27.00 27.00 28.00 6.90 Points [+]
Corruption Rank 144.00 148.00 152.00 52.00 [+]
Changes In Inventories 159351.20 147791.30 165871.80 32488.05 NGN Million [+]
Competitiveness Index 47.53 48.04 48.04 3.37 Points [+]
Competitiveness Rank 115.00 112.00 127.00 94.00 [+]
Composite Pmi 53.60 53.30 59.10 46.30 [+]
Capacity Utilization 54.60 54.40 60.50 48.50 percent [+]
Services Pmi 58.50 58.40 62.30 41.00 [+]
Mining Production -20.70 0.70 48.20 -34.10 percent [+]


Stanbic IBTC Bank Nigeria PMI

The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 400 companies from agriculture, manufacturing, services, construction and retail. The Purchasing Managers’ Index is a composite index 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 private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Stanbic IBTC Bank Nigeria PMI - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
53.60 53.30 59.10 46.30 2014 - 2019 Monthly




Country Last Previous
Australia 50.60 Apr/19
Brazil 53.10 Mar/19
China 52.90 Mar/19
Euro Area 51.30 Apr/19
France 50.00 Apr/19
Germany 52.10 Apr/19
India 52.70 Mar/19
Italy 51.50 Mar/19
Japan 50.40 Mar/19
Russia 54.60 Mar/19
Singapore 51.80 Mar/19
South Africa 48.80 Mar/19
United Kingdom 50.00 Mar/19
United States 52.80 Apr/19


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