The Central Bank of Nigeria composite PMI for the non-manufacturing sector rose to a four-month high of 58.9 in May 2019 from 58.7 in the previous month. It marks the twenty-fifth month of expansion in the services sector, as business activity (59.2 from 58.4 in April) and inventories (59.3 from 58.5) grew much faster. In contrast, softer increases were recorded for total new orders (58.6 from 59.0) and employment (58.5 from 58.7) while export orders continued to fall (39.8 from 38.8). In terms of prices, input price inflation slowed (51.3 from 52.1). Services Pmi in Nigeria averaged 52.66 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 11.50 -11.00 20.10 -20.40 percent [+]
Manufacturing Production 0.20 -1.70 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 57.80 57.70 61.10 41.90 [+]
Crude Oil Rigs 14.00 14.00 20.00 3.00 [+]
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 178909.34 172276.89 178909.34 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 52.90 52.90 59.10 46.30 [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 58.90 58.70 62.30 41.00 [+]
Mining Production 28.00 -20.70 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
58.90 58.70 62.30 41.00 2014 - 2019 Monthly




Country Last Previous
Australia 52.50 May/19
Brazil 47.80 May/19
China 52.70 May/19
Euro Area 52.90 May/19
France 51.50 May/19
Germany 55.40 May/19
India 50.20 May/19
Italy 50.00 May/19
Japan 51.70 May/19
Russia 52.00 May/19
Spain 52.80 May/19
United Kingdom 51.00 May/19
United States 50.90 May/19


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