Services PMI in Nigeria increased to 50.40 points in July from 50.30 points in June of 2022. source: Central Bank of Nigeria

Services PMI in Nigeria averaged 51.36 points from 2014 until 2022, 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 December of 2022.

Services PMI in Nigeria is expected to be 49.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Non Manufacturing PMI is projected to trend around 51.00 points in 2023 and 53.00 points in 2024, according to our econometric models.

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Nigeria Non Manufacturing PMI

Related Last Previous Unit Reference
Business Confidence -15.20 -1.50 points Dec 2020
Industrial Production -7.20 -9.70 percent Jun 2022
Manufacturing Production 9.40 5.90 percent Jun 2022
Manufacturing PMI 52.30 53.20 points Aug 2022
Services PMI 50.40 50.30 points Jul 2022
Mining Production -4.80 27.50 percent Jun 2022
Capacity Utilization 51.30 55.40 percent Jun 2022
Leading Economic Index 45.90 45.50 percent Mar 2016

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.
Actual Previous Highest Lowest Dates Unit Frequency
50.40 50.30 62.30 25.30 2014 - 2022 points Monthly