The Stanbic IBTC Bank Nigeria PMI rose to 52.9 in March of 2021 from 52 in the previous month, the strongest expansion in the country's private sector since last October. Both output and new orders grew solidly for the second consecutive month, which led to a sound rise in purchases. Moreover, employment rose marginally. On the price front, overall input price inflation remained robust, mainly due to material shortages although part of the burden was shifted to consumers. Lastly, business sentiment fell to a three-month low. source: Markit Economics
Composite PMI in Nigeria averaged 53.16 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 April of 2021.
Composite PMI in Nigeria is expected to be 51.70 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 52.00 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.