Manufacturing PMI in Nigeria increased to 49 points in April from 48.80 points in March of 2021. source: Central Bank of Nigeria

Manufacturing PMI in Nigeria averaged 51.83 points from 2014 until 2021, reaching an all time high of 61.10 points in December of 2018 and a record low of 41.10 points in June of 2020. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

Manufacturing PMI in Nigeria is expected to be 47.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 51.00 points in 2022 and 52.00 points in 2023, according to our econometric models.

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Nigeria Manufacturing PMI

Related Last Previous Unit Reference
Business Confidence -15.20 -1.50 points Dec/20
Industrial Production 1.60 -10.30 percent Dec/20
Manufacturing Production -1.30 -10.30 percent Dec/20
Manufacturing PMI 46.90 46.60 points Aug/21
Services PMI 46.90 44.80 points Aug/21
Mining Production 9.20 -17.30 percent Dec/20
Capacity Utilization 45.40 43.80 percent Dec/20
Leading Economic Index 45.90 45.50 percent Mar/16
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.