The Central Bank of Nigeria Manufacturing PMI rose to 57.4 in March 2019 from 57.1 in the previous month. The reading pointed to expansion in the manufacturing sector for the twenty-fourth consecutive month. Faster increases were seen in output (58.3 from 57.5 in February), export orders (47.9 from 39.7), employment (56.9 from 56.3), raw materials inventory (57.1 from 56.2) and stocks of finished products (60.7 from 55.4). The supplier delivery time also improved (58.4 from 58.2). Meanwhile, total new orders rose at a slightly slower pace (56.7 from 56.9) and purchasing activity weakened (51.8 from 52.1). On the price front, input price inflation softened (57.6 from 60.9) while output charge inflation continued to accelerate (62.3 from 53.7). Manufacturing Pmi in Nigeria averaged 51.60 from 2014 until 2019, reaching an all time high of 61.10 in December of 2018 and a record low of 41.90 in June of 2016.

Manufacturing Pmi in Nigeria is expected to be 57.20 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 59.60 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 60.00 in 2020, according to our econometric models.

Nigeria Manufacturing 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 [+]


Nigeria Manufacturing PMI

The Composite Manufacturing PMI measures the performance of the manufacturing sector and is derived from a survey of purchasing and supply executives from 13 locations in Nigeria. The survey shows the change, if any, in the current month compared with the previous month. The PMI is presented as an average of variables with the following weights: production level (25 percent), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
57.40 57.10 61.10 41.90 2014 - 2019 Monthly




Country Last Previous
Australia 51.00 Mar/19
Brazil 52.80 Mar/19
Canada 50.50 Mar/19
China 50.80 Mar/19
Euro Area 47.80 Apr/19
France 49.60 Apr/19
Germany 44.50 Apr/19
India 52.60 Mar/19
Indonesia 51.20 Mar/19
Italy 47.40 Mar/19
Japan 49.50 Apr/19
Mexico 49.80 Mar/19
Netherlands 52.50 Mar/19
Russia 52.80 Mar/19
Saudi Arabia 56.80 Mar/19
Singapore 50.80 Mar/19
South Africa 45.00 Mar/19
South Korea 48.80 Mar/19
Spain 50.90 Mar/19
Switzerland 50.30 Mar/19
Turkey 47.20 Mar/19
United Kingdom 55.10 Mar/19
United States 52.40 Apr/19


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