The Central Bank of Nigeria composite PMI for the non-manufacturing sector decreased to 45.7 in December of 2020 from 47.6 in November, pointing to the 9th straight month of contraction in the services sector. Declines were seen in business activity (46.9 vs 50.5 in November), new orders (45.1 vs 46.9), employment (45.1 vs 46.7) and inventories (45.7 vs 46.1). On the price front, input price inflation ticked up (54.7 vs 54.5). source: Central Bank of Nigeria

Services PMI in Nigeria averaged 52.20 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 February of 2021.

Services PMI in Nigeria is expected to be 48.50 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 54.50 in 12 months time. In the long-term, the Nigeria Non 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 Non Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
45.70 47.60 62.30 25.30 2014 - 2020 points Monthly


News Stream
Nigeria Services Sector Contracts for 9th Month
The Central Bank of Nigeria composite PMI for the non-manufacturing sector decreased to 45.7 in December of 2020 from 47.6 in November, pointing to the 9th straight month of contraction in the services sector. Declines were seen in business activity (46.9 vs 50.5 in November), new orders (45.1 vs 46.9), employment (45.1 vs 46.7) and inventories (45.7 vs 46.1). On the price front, input price inflation ticked up (54.7 vs 54.5).
2020-12-28
Nigeria Services Sector Shrinks for 8th Month
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 47.6 in November of 2020 from 46.8 in October, pointing to the 8th straight month of contraction in the services sector. Still, the rate of decrease was the softest since March, as business activity rebounded (50.5 vs 48.7 in October) and employment fell less (46.7 vs 44.2). Meanwhile, new orders (46.9 vs 47.8) and inventories (46.1 vs 46.3) declined more. On the price front, input price inflation quickened (54.5 vs 52.6).
2020-11-18
Nigeria Services Sector Shrinks for 7th Month
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 46.8 in October of 2020 from 41.9 in September, pointing to the 7th straight month of contraction in the non-manufacturing sector. Still, the rate of decrease was the softest in the current sequence, as business activity (48.7 vs 43.7 in September), new orders (47.8 vs 39.5), employment (44.2 vs 41.6) and inventories (46.3 vs 43.1) fell at slower rates. Meanwhile, input price pressures rose (52.6 vs 51.2).
2020-10-27
Nigeria Non Manufacturing Sector Extends the Decline
The Central Bank of Nigeria composite PMI for the non-manufacturing sector fell to 41.9 in September of 2020 from 44.7 in August, pointing to the 6th straight month of contraction in the non-manufacturing sector. business activity (43.7 vs 47.4), new orders (39.5 vs 44), employment (41.6 vs 44.3), inventories (43.1, the same as in August)and new export orders (32.8 vs 34.2) continued to fall at marked paces. Meanwhile, input price pressures slowed (51.2 vs 53.5).
2020-09-25

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.