The Central Bank of Nigeria composite PMI for the manufacturing sector edged down to 49.6 in December of 2020 from 50.2 in November, pointing to a renewed contraction in the country's manufacturing activity. Decreases were seen in export orders (33.1 vs 35.4 in November), employment (46.3 vs 47.3) and purchasing activity (49 vs 51.7). In addition, both output (51.6 vs 51.7) and new orders (50.2 vs 50.5) increased at weaker rates. On the price front, both input (73 vs 71.7) and output price inflation (61.4 vs 60.1) accelerated. source: Central Bank of Nigeria
Manufacturing PMI in Nigeria averaged 52.04 points from 2014 until 2020, 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 February of 2021.
Manufacturing PMI in Nigeria is expected to be 51.00 points 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 53.00 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 54.00 points in 2021 and 56.00 points in 2022, according to our econometric models.