The Central Bank of Nigeria Manufacturing PMI rose to 57.8 in May 2019 from 57.7 in the previous month. The reading pointed to expansion in the manufacturing sector for the twenty-sixth straight month and at the quickest pace since January, as output (59.1 from 58.8 in April) and employment (57.3 from 57.0) increased faster. Meanwhile, slower rises were seen for total new orders (56.9 from 57.2); raw materials inventory (56.8 from 57.5); stocks of finished goods (51.5 from 54.4) and purchasing activity (51.5 from 57.3). At the same time, export orders continued to decline (37.7 from 37.4). On the price front, input price inflation (62.2 from 60.2) accelerated while output charge inflation eased slightly (52.3 from 52.4). Manufacturing Pmi in Nigeria averaged 51.81 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 57.50 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
width
height
Forecast Data Chart
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 28.20 22.10 41.10 -29.00 Index Points [+]
Industrial Production 11.50 -11.00 20.10 -20.40 percent [+]
Manufacturing Production 0.20 -1.70 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 57.80 57.70 61.10 41.90 [+]
Crude Oil Rigs 14.00 14.00 20.00 3.00 [+]
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 178909.34 172276.89 178909.34 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 52.90 52.90 59.10 46.30 [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 58.90 58.70 62.30 41.00 [+]
Mining Production 28.00 -20.70 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
57.80 57.70 61.10 41.90 2014 - 2019 Monthly




Country Last Previous
Australia 52.70 May/19
Brazil 50.20 May/19
Canada 49.10 May/19
China 50.20 May/19
Euro Area 47.70 May/19
France 50.60 May/19
Germany 44.30 May/19
India 52.70 May/19
Indonesia 51.60 May/19
Italy 49.70 May/19
Japan 49.80 May/19
Mexico 50.00 May/19
Netherlands 52.20 May/19
Russia 49.80 May/19
Saudi Arabia 57.30 May/19
Singapore 49.90 May/19
South Africa 45.40 May/19
South Korea 48.40 May/19
Spain 50.10 May/19
Switzerland 48.60 May/19
Turkey 45.30 May/19
United Kingdom 49.40 May/19
United States 50.50 May/19


Related

Latest