The Central Bank of Nigeria composite PMI for the non-manufacturing sector edged up to 58.7 in July of 2019 from 58.6 in the previous month. New orders (60.1 vs 59.2 in June) and inventories (58.9 vs 58.8) went up at a faster rate while business activity (57.6 vs 58.2) and employment (58 vs 58.3) increased less. On the other hand, new export orders (42 vs 43) and imports (43.9 vs 45.3) dropped further. Meantime, average input price inflation slowed (51.7 vs 52.1). Services Pmi in Nigeria averaged 52.85 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 58.60 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 60.20 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
width
height
Forecast Data Chart
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 29.70 29.20 41.10 -29.00 Index Points [+]
Industrial Production -10.50 -10.30 20.10 -20.40 percent [+]
Manufacturing Production 0.40 0.20 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 57.60 57.40 61.10 41.90 [+]
Crude Oil Rigs 15.00 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 54.60 54.80 59.10 46.30 [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 58.70 58.60 62.30 41.00 [+]
Mining Production -25.90 28.00 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
58.70 58.60 62.30 41.00 2014 - 2019 Monthly




Country Last Previous
Australia 43.90 Jul/19
Brazil 52.20 Jul/19
China 51.60 Jul/19
Euro Area 53.20 Jul/19
France 52.60 Jul/19
Germany 54.50 Jul/19
India 53.80 Jul/19
Italy 51.70 Jul/19
Japan 51.80 Jul/19
Russia 50.40 Jul/19
Spain 52.90 Jul/19
United Kingdom 51.40 Jul/19
United States 53.00 Jul/19


Related

Latest