The Central Bank of Nigeria composite PMI for non-manufacturing sector increased slightly to 58.5 in March 2019 from 58.4 in the previous month. The reading pointed to expansion in the services sector for the twenty-third straight month. New orders (58.9 from 58.6 in February), export orders (39.4 from 36.2), employment (57.8 from 57.3) and inventories (59.5 from 58.2) advanced faster. In contrast, business activity slowed (57.8 from 59.7). Regarding prices, input price inflation was slightly higher (50.5 from 50.3). Services Pmi in Nigeria averaged 52.44 from 2014 until 2019, reaching an all time high of 62.30 in December of 2018 and a record low of 41 in September of 2016.

Services Pmi in Nigeria is expected to be 59.30 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 59.50 in 12 months time. In the long-term, the Nigeria Non Manufacturing PMI is projected to trend around 61.70 in 2020, according to our econometric models.

Nigeria Non Manufacturing PMI
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Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 28.20 22.10 41.10 -29.00 Index Points [+]
Industrial Production -11.00 -3.30 20.10 -20.40 percent [+]
Manufacturing Production -1.70 1.30 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 57.40 57.10 61.10 41.90 [+]
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 159351.20 147791.30 165871.80 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 53.60 53.30 59.10 46.30 [+]
Capacity Utilization 54.60 54.40 60.50 48.50 percent [+]
Services Pmi 58.50 58.40 62.30 41.00 [+]
Mining Production -20.70 0.70 48.20 -34.10 percent [+]


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. This page provides - Nigeria Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Non Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
58.50 58.40 62.30 41.00 2014 - 2019 Monthly




Country Last Previous
Australia 44.80 Mar/19
Brazil 52.70 Mar/19
China 54.40 Mar/19
Euro Area 52.50 Apr/19
France 50.50 Apr/19
Germany 55.60 Apr/19
India 52.00 Mar/19
Italy 53.10 Mar/19
Japan 52.00 Mar/19
Russia 54.40 Mar/19
Spain 56.80 Mar/19
United Kingdom 48.90 Mar/19
United States 52.90 Apr/19


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