The Stanbic IBTC Bank Nigeria PMI slowed to 52.2 in August of 2021, down from 55.4 in the previous month. The rate of growth in private sector activity slowed to a six-month low, amid softer increases in output, new orders and employment. In contrast, there was a quicker expansion in held inventories as firms seek to take advantage of faster lead times, and protect against any future supply shocks. Meanwhile, purchase prices continued to rise, although the rate softened from July. Finally, business sentiment moderated to the third-weakest in the series. Panel comments suggested the longer-term economic implications of COVID-19 weighed on optimism. source: Markit Economics
Composite PMI in Nigeria averaged 53.19 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 September of 2021.
Composite PMI in Nigeria is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.