The Central Bank of Nigeria Manufacturing PMI increased to 61.1 in December of 2018 from 57.9 in the previous month. The reading pointed to the strongest expansion in factory activity since series began in 2014, as output (63.6 from 59.9 in November); new orders (62.3 from 58.1) and employment (57 from 55.4) rose at a record pace. Also, purchasing activity advanced further (56.1 from 52.2). On the price front, input price inflation (61.3 from 57.8) accelerated while output cost inflation eased (51.6 from 51.9). Manufacturing Pmi in Nigeria averaged 51.26 from 2014 until 2018, reaching an all time high of 61.10 in December of 2018 and a record low of 41.90 in June of 2016.

Manufacturing Pmi in Nigeria is expected to be 56.30 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Nigeria to stand at 57.37 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 51.30 in 2020, according to our econometric models.

Nigeria Manufacturing PMI
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Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 30.50 24.00 41.10 -29.00 Index Points [+]
Industrial Production -11.00 -3.30 20.10 -20.40 percent [+]
Manufacturing Production -1.70 1.30 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 61.10 57.90 61.10 41.90 [+]
Ease of Doing Business 146.00 145.00 170.00 120.00 [+]
Corruption Index 27.00 28.00 28.00 6.90 Points [+]
Corruption Rank 148.00 136.00 152.00 52.00 [+]
Changes In Inventories 159351.20 147791.30 165871.80 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 55.00 55.50 59.10 46.30 [+]
Capacity Utilization 54.60 54.40 60.50 48.50 percent [+]
Mining Production -20.70 0.70 48.20 -34.10 percent [+]
Services Pmi 62.30 58.40 62.30 41.00 [+]


Nigeria Manufacturing PMI

The Composite Manufacturing PMI measures the performance of the 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. The PMI is presented as an average of variables with the following weights: production level (25 percent), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
61.10 57.90 61.10 41.90 2014 - 2018 Monthly




Country Last Previous
Australia 49.50 Dec/18
Brazil 52.60 Dec/18
Canada 53.60 Dec/18
China 49.70 Dec/18
Euro Area 51.40 Dec/18
France 49.70 Dec/18
Germany 51.50 Dec/18
India 53.20 Dec/18
Indonesia 51.20 Dec/18
Italy 49.20 Dec/18
Japan 52.60 Dec/18
Mexico 49.70 Dec/18
Netherlands 57.20 Dec/18
Russia 51.70 Dec/18
Saudi Arabia 54.50 Dec/18
Singapore 51.10 Dec/18
South Africa 50.70 Dec/18
South Korea 49.80 Dec/18
Spain 51.10 Dec/18
Switzerland 57.80 Dec/18
Turkey 44.20 Dec/18
United Kingdom 54.20 Dec/18
United States 53.80 Dec/18


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