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.


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Nigeria Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
59.20 60.80 61.10 41.90 2014 - 2020 points Monthly


News Stream
Nigeria Manufacturing PMI Edges Down in January
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.
2020-01-31
Nigeria Manufacturing PMI at 1-Year High
The Central Bank of Nigeria Manufacturing PMI rose to 60.8 in December 2019 from 59.3 in the previous month, signalling the fastest expansion in factory activity since December last year. Improvements were observed in output (61.8 from 60.1 in November); new orders (61.5 from 59.4); employment (58.0 from 57.7); raw material inventories (62.4 from 60.6) and quantity of purchases (57.0 from 55.8). In contrast, export orders declined at a faster pace (39.1 from 41.0). In terms of prices, both input inflation (59.2 from 59.3) and output charge inflation (51.9 from 53.1) softened somewhat.
2019-12-30
Nigeria Manufacturing PMI at 11-Month High
The Central Bank of Nigeria Manufacturing PMI rose to 59.3 in November 2019 from 58.2 in the previous month. The reading pointed to the fastest expansion in factory activity since December, amid increases in output (60.1 from 59.3 in October); new orders (59.4 from 57.9); employment (57.7 from 56.8); raw material inventories (60.6 from 58.6) and quantity of purchases (55.8 from 53.7). Also, export orders declined at a slightly slower pace (41.0 from 40). On the price front, both input inflation (59.3 from 58.4) and output charge inflation (53.1 from 52.1) accelerated.
2019-11-28
Nigeria Manufacturing PMI at 9-Month High
The Central Bank of Nigeria Manufacturing PMI rose to 58.2 in October 2019 from 57.7 in the previous month. The reading pointed to the fastest expansion in factory activity since January, amid increases in output (59.3 from 58.5 in September), new orders (57.9 from 57.2), employment (56.8 from 56.6) and raw materials inventories (58.6 from 58.1). In addition, export orders declined slightly less (40.0 from 39.0). On the price front, input inflation eased (58.4 from 58.8) while output charge inflation quickened (52.5 from 51.9).
2019-10-31

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.