The Central Bank of Nigeria Manufacturing PMI fell to 59.2 in January 2020 from 60.8 in the previous month, pointing to the weakest expansion in factory activity since October. Slower increases were seen for new orders (59.7 vs 61.5 in December); output (59.6 vs 61.8); employment (57.3 vs 58.0) and raw materials inventories (60.7 vs 62.4) and purchasing activity (54.8 vs 57.0). In addition, exports orders continued to fall and at a faster pace (37.0 vs 39.1). On the price front, both input inflation (63.5 vs 59.2) and output charge inflation (55.3 vs 51.9) quickened.
Manufacturing Pmi in Nigeria averaged 52.61 points from 2014 until 2020, reaching an all time high of 61.10 points in December of 2018 and a record low of 41.90 points in June of 2016. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Central Bank of Nigeria
Manufacturing Pmi in Nigeria is expected to be 57.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Nigeria to stand at 60.60 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 60.30 points in 2021, according to our econometric models.