The Stanbic IBTC Bank Nigeria PMI stood at 52.9 in April of 2021, unchanged from March's five-month high, as new orders and output continued to rise solidly. At the same time, employment and purchasing activity increased markedly in anticipation of greater demand, while vendor performance improved further. Still, inflationary pressures remained high, with material shortages contributing to the sharpest overall rate of inflation in the series to date. Firms responded by raising selling prices to protect their profit margins. Finally, sentiment regarding the year ahead remained upbeat, supported by plans to expand operations and invest in marketing. source: Markit Economics
Composite PMI in Nigeria averaged 53.15 points from 2014 until 2021, reaching an all time high of 59.10 points in May of 2018 and a record low of 37.10 points in April of 2020. This page provides - Nigeria Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Stanbic IBTC Bank Nigeria PMI - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Composite PMI in Nigeria is expected to be 50.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite PMI in Nigeria to stand at 51.30 in 12 months time. In the long-term, the Stanbic IBTC Bank Nigeria PMI is projected to trend around 53.00 points in 2022 and 54.00 points in 2023, according to our econometric models.