The Stanbic IBTC Bank Nigeria PMI rose to 55.5 in April 2019 from 53.6 in the previous month. The reading pointed to a marked and stronger improvement in the health of the Nigerian private sector which was the sharpest since last November. Output and new orders grew at a faster pace and the rate of job creation picked up, with the latest solid rise in employment the most marked since June 2018. At the same time, backlogs of work went down for the first time in nine months. Also, the rate of growth in purchasing activity accelerated sharply and was the fastest in three months. On the price front, inflationary pressures remained muted. Regarding optimism around the 12-month outlook for output it improved to a three-month high amid planned investment in operations and new products, as well as expected openings of new outlets. Composite Pmi in Nigeria is reported by Markit Economics.

Composite Pmi in Nigeria is expected to be 54.40 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 54.00 in 12 months time. In the long-term, the Stanbic IBTC Bank Nigeria PMI is projected to trend around 53.00 in 2020, according to our econometric models.

Stanbic IBTC Bank Nigeria PMI
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Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 28.20 22.10 41.10 -29.00 Index Points [+]
Industrial Production 11.50 -11.00 20.10 -20.40 percent [+]
Manufacturing Production 0.20 -1.70 24.60 -7.00 percent [+]
Internet Speed 3853.93 4129.28 4129.28 348.64 KBps [+]
IP Addresses 209207.00 194830.00 244394.00 29604.00 IP [+]
Leading Economic Index 45.90 45.50 53.00 45.50 percent [+]
Manufacturing Pmi 57.80 57.70 61.10 41.90 [+]
Crude Oil Rigs 14.00 14.00 20.00 3.00 [+]
Ease of Doing Business 146.00 145.00 170.00 120.00 [+]
Corruption Index 27.00 27.00 28.00 6.90 Points [+]
Corruption Rank 144.00 148.00 152.00 52.00 [+]
Changes In Inventories 178909.34 172276.89 178909.34 32488.05 NGN Million [+]
Competitiveness Index 47.53 48.04 48.04 3.37 Points [+]
Competitiveness Rank 115.00 112.00 127.00 94.00 [+]
Composite Pmi 55.50 53.60 59.10 46.30 [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 58.90 58.70 62.30 41.00 [+]
Mining Production 28.00 -20.70 48.20 -34.10 percent [+]


Stanbic IBTC Bank Nigeria PMI

The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 400 companies from agriculture, manufacturing, services, construction and retail. The Purchasing Managers’ Index is a composite index based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. 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. This page provides - Nigeria Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Stanbic IBTC Bank Nigeria PMI - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
55.50 53.60 59.10 46.30 2014 - 2019 Monthly




Country Last Previous
Australia 52.20 May/19
Brazil 50.60 Apr/19
China 52.70 Apr/19
Euro Area 51.60 May/19
France 51.30 May/19
Germany 52.40 May/19
India 51.70 Apr/19
Italy 49.50 Apr/19
Japan 50.80 Apr/19
Russia 53.00 Apr/19
Singapore 53.30 Apr/19
South Africa 50.30 Apr/19
United Kingdom 50.90 Apr/19
United States 50.90 May/19


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