The Manufacturing PMI for Nigeria fell to 46.9 in September of 2020 from 48.5 in August, pointing to a 5th straight month of contraction in factory activity. Production (47.3 vs 49.2), new orders (46.4 vs 49.2), export orders (32.7 vs 31.8), employment (44.1 vs 44.6) and raw materials inventories (43 vs 46.1) continued to fall at marked rates while both input (69.8 vs 66.8) and output price inflation (58.8 vs 58.4) increased.
Manufacturing Pmi in Nigeria averaged 52.13 points from 2014 until 2020, reaching an all time high of 61.10 points in December of 2018 and a record low of 41.10 points in June of 2020. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Central Bank of Nigeria
Manufacturing Pmi in Nigeria is expected to be 49.60 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 54.00 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 56.00 points in 2021 and 58.00 points in 2022, according to our econometric models.