Services Pmi in Nigeria decreased to 59.60 points in January from 62.10 points in December of 2019. Nigeria Non Manufacturing PMI - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

Services Pmi in Nigeria averaged 53.45 points from 2014 until 2020, reaching an all time high of 62.30 points in December of 2018 and a record low of 41 points in September of 2016. This page provides - Nigeria Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Central Bank of Nigeria

Services Pmi in Nigeria is expected to be 58.70 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 61.90 in 12 months time. In the long-term, the Nigeria Non Manufacturing PMI is projected to trend around 61.70 points in 2021, according to our econometric models.


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Nigeria Non Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
59.60 62.10 62.30 41.00 2014 - 2020 points Monthly


News Stream
Nigeria Services PMI Drops in January
The Central Bank of Nigeria composite PMI for the non-manufacturing sector decreased to 59.6 in January of 2020 from 62.1 in the previous month. The reading pointed to the slowest expansion in the country's services sector since last October, business activity (59.8 vs 62.6 in December); new orders (59.4 vs 61.9); employment (58.9 vs 60.8) and inventories (60.4 vs 63.1). Also, exports orders fell more steeply (41.3 vs 43.2). On the price front, input inflation slowed (51.2 vs 56.0).
2020-01-31
Nigeria Services PMI Highest in a Year
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 62.1 in December 2019 from 60.1 in the previous month. The reading pointed to the fastest expansion in the services sector since December last year, driven by business activity (62.6 from 60.0 in November); new orders (61.9 from 60.7); employment (60.8 from 58.4) and inventories (63.1 from 61.5). Also, export orders shrank less (43.2 from 41.6). On the price front, input inflation quickened (56.0 from 54.6).
2019-12-30
Nigeria Services PMI at 10-Month High
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 60.1 in November 2019 from 58.2 in the previous month. The reading pointed to the quickest expansion in the services sector since January, driven by business activity (60.7 from 57.9 in October); new orders (60.7 from 58.5); employment (58.4 from 57.1) and inventories (61.5 from 59.2). Also, export orders fell at a softer pace (41.6 from 40.4). In terms of prices, input inflation continued to climb (54.6 from 52.2).
2019-11-28
Nigeria Services PMI Edges Up in October
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 58.2 in October 2019 from 58.0 in the previous month. Business activity (57.9 from 58.2 in September), new orders (58.5 from 58.4) and inventories (59.2 from 58.5) continued to advance at a solid pace. Meanwhile, a deterioration was seen in employment (57.1 from 58.0) and export orders (40.4 from 42.4). In terms of prices, input inflation quickened (52.2 from 51.9).
2019-10-31

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.