The Central Bank of Nigeria composite PMI for the non-manufacturing sector rose to 35.7 in June of 2020 from a record low of 25.3 in the previous month. Slower declines were seen in all components: business activity (34.3 vs 19.5 in May); new orders (32.5 vs 19.6); export orders (27 vs 22.6); employment (37.4 vs 32) and inventories (38.5 vs 30.1). In terms of prices, input costs fell at a slower pace (46.7 vs 42.6).

Services Pmi in Nigeria averaged 52.81 points from 2014 until 2020, reaching an all time high of 62.30 points in December of 2018 and a record low of 25.30 points in May of 2020. This page provides - Nigeria Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Non Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Central Bank of Nigeria

Services Pmi in Nigeria is expected to be 27.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Nigeria to stand at 53.00 in 12 months time. In the long-term, the Nigeria Non 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 Non Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
35.70 25.30 62.30 25.30 2014 - 2020 points Monthly


News Stream
Nigeria Services Sector Contraction Softens in June
The Central Bank of Nigeria composite PMI for the non-manufacturing sector rose to 35.7 in June of 2020 from a record low of 25.3 in the previous month. Slower declines were seen in all components: business activity (34.3 vs 19.5 in May); new orders (32.5 vs 19.6); export orders (27 vs 22.6); employment (37.4 vs 32) and inventories (38.5 vs 30.1). In terms of prices, input costs fell at a slower pace (46.7 vs 42.6).
2020-06-25
Nigeria Services Sector Contracts at Record Pace
The Central Bank of Nigeria composite PMI for the non-manufacturing sector plunged to 25.3 in May of 2020 from 49.2 in the previous month. The reading pointed to the sharpest monthly contraction in the services sector since available records began in July of 2014, amid the effects of the global pandemic. Main decreases were seen in business activity (19.5 vs 52.2 in March); new orders (19.6 vs 47.8); export orders (22.6 vs 36.1); employment (32 vs 47.3) and inventories (30.1 vs 49.6). Regarding prices, input inflation slowed (42.6 vs 51.2). 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 Services Sector Shrinks for 1st Time since 2017
The Central Bank of Nigeria composite PMI for the non-manufacturing sector fell to 49.2 in March of 2020 from 58.6 in the previous month. The reading pointed to the first monthly contraction in the services sector since April of 2017, owing to decreases in new orders (47.8 from 58.8 in February), export orders (36.1 from 44.6), employment (47.3 from 57.8) and inventories (49.6 from 58.6). Also, business activity rose at a slower pace (52.2 from 59.3). In terms of prices, input cost inflation softened (51.2 from 52.1).
2020-03-24
Nigeria Services Activity Growth Slows in February
The Central Bank of Nigeria composite PMI for the non-manufacturing sector decreased to 58.6 in February 2020 from 59.6 in the previous month. The reading pointed to the weakest expansion in the services sector since October last year, as business activity (59.3 vs 59.8 in January); new orders (58.8 vs 59.4); employment (57.8 vs 58.9) and inventories (58.6 vs 60.4) declined. Meantime, export orders continue to fall, still at a slower pace (44.6 vs 41.3). On the price front, input cost inflation accelerated (52.1 vs 51.2).
2020-02-28

Nigeria Non Manufacturing PMI
The Composite Non-Manufacturing PMI measures the performance of the non 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 and is presented as an average of: production level (25 percent of weight), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change.