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.

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Nigeria Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
46.90 48.50 61.10 41.10 2014 - 2020 points Monthly


News Stream
Nigeria Factory Activity Shrinks for 5th Month
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.
2020-09-25
Nigeria August Manufacturing PMI at 4-High High
The Central Bank of Nigeria Manufacturing PMI rose to 48.5 in August of 2020 from 44.9 in the previous month. The latest reading pointed to the smallest contraction in factory activity since March, helped by easing lockdown restrictions. Softer declines were recorded in output (49.2 vs 44.7), new orders (49.2 vs 42.9), export orders (31.8 vs 29.1), employment (44.6 vs 40) and raw materials inventories (46.1 vs 43.4). On the price front, both input inflation (66.8 vs 67.4) and output charge inflation (58.4 vs 58.5) weakened.
2020-08-28
Nigeria Factory Activity Continues to Shrink in July
The Central Bank of Nigeria Manufacturing PMI rose to 44.9 in July 2020 from 41.1 in the previous month. The latest reading pointed to a slower contraction in factory activity amid the easing of coronavirus lockdown restrictions. Output (44.7 vs 36.6 in June); new orders (43.1 vs 36.4); export sales (29.1 vs 25.9); and raw materials inventories (43.2 vs 41.0) continued to shrink albeit at a softer pace. In addition, the job shedding rate eased (40 vs 38.8). On the price front, both input inflation (67.6 vs 67.2), and output charge inflation (58.6 vs 53.2) quickened.
2020-07-31
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 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.