The Central Bank of Nigeria Manufacturing PMI decreased further to 41.1 in June of 2020 from 42.4 in the prior month. The reading pointed to the steepest contraction in manufacturing activity since available records began in July of 2014, amid steeper declines in new orders (36.4 vs 42.8 in May); export orders (25.9 vs 36.3) and output (36.6 vs 44.5). Meanwhile, both employment (38.8 vs 24.5) and raw materials inventories (41.0 vs 37.4) fell at a softer pace. On the price front, input inflation accelerated (67.2 vs 61.4), but output charge inflation remained steady (at 53.2).

Manufacturing Pmi in Nigeria averaged 52.36 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 June of 2020. source: Central Bank of Nigeria

Manufacturing Pmi in Nigeria is expected to be 41.50 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 51.00 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 54.00 points in 2021 and 56.00 points in 2022, according to our econometric models.

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Nigeria Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
41.10 42.40 61.10 41.10 2014 - 2020 points Monthly


News Stream
Nigeria Manufacturing PMI Falls at Record Pace
The Central Bank of Nigeria Manufacturing PMI decreased further to 41.1 in June of 2020 from 42.4 in the prior month. The reading pointed to the steepest contraction in manufacturing activity since available records began in July of 2014, amid steeper declines in new orders (36.4 vs 42.8 in May); export orders (25.9 vs 36.3) and output (36.6 vs 44.5). Meanwhile, both employment (38.8 vs 24.5) and raw materials inventories (41.0 vs 37.4) fell at a softer pace. On the price front, input inflation accelerated (67.2 vs 61.4), but output charge inflation remained steady (at 53.2).
2020-06-25
Nigeria Factory Activity Shrinks the Most since 2016
The Central Bank of Nigeria Manufacturing PMI sank to 42.4 in May of 2020 from 51.1 in March. The reading pointed to the steepest pace of contraction in manufacturing activity since August of 2016, as the negative effects of the novel coronavirus and government measures to control it began to be felt. As a result, declines were seen in output (44.5 vs 54.4 in March); new orders (42.8 vs 52.3); export orders (36.3 vs 42.3); employment (24.5 vs 47.1); raw materials inventories (3.4 vs 49.4); purchasing activity (26.3 vs 55.6) and backlogs of work (34.9 vs 41.2). On the price front, input inflation softened (61.4 vs 62.6) while output prices rose slightly faster (53.2 vs 53). Meantime, suppliers' delivery times went up sharply (65.2 vs 49.4), reflecting severe disruptions in supply chains. The central bank said that data for April was not produced due to the containment measures ordered by the Nigerian government.
2020-06-01
Nigeria March Factory Activity Growth Nears 3-Year Low
The Central Bank of Nigeria Manufacturing PMI slipped to 51.1 in March of 2020 from 58.3 in the previous month. The reading pointed to the weakest expansion in factory activity since April of 2017, as both output (54.4 from 58.9 in February) and new orders (52.3 from 59.1) increased at a slower pace. In addition, declines were seen in employment (47.1 from 56.4), raw materials inventories (49.4 from 58.5) and export orders (42.3 from 41.9). On the price front, input inflation accelerated (62.6 from 61.4) while output charge inflation softened (53 from 53.7).
2020-03-24
Nigeria Factory Activity Growth at 4-Month Low
The Central Bank of Nigeria Manufacturing PMI went down to 58.3 in February 2020 from 59.2 in the previous month. The latest reading pointed to the softest expansion in factory activity in four months, as output (58.9 vs 59.6 in January); new orders (59.1 vs 59.7); employment (56.4 vs 57.3); and raw materials inventories (58.5 vs 60.7) dropped. Meanwhile, purchasing activity rose (55.5 vs 54.8); and exports orders increased, still remaining in contraction territory (41.9 vs 37.0). On the price front, both input price inflation (61.4 vs 63.5) and output (53.7 vs 55.3) slowed.
2020-02-28

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.