The Central Bank of Nigeria Manufacturing PMI rose to 57.9 in August of 2019, its highest since December, from 57.6 in the prior month. Faster Increases were seen in supplier delivery time (58.3 from 57.5 in July); raw materials inventories (58.7 from 56.2) and stocks of finished products (52.1 from 51.5). Meanwhile, output (58.7 from 58.9); new orders (57.1 from 57.2) and employment (57.1 from 57.3) grew at a slower pace. Also, export orders fell further (39.9 from 41.1). On the price front, both input inflation (57.0 from 59.5) and output charge inflation (50.3 from 52.2) softened. Manufacturing Pmi in Nigeria averaged 52.09 from 2014 until 2019, 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 60.00 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 58.80 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 60.50 in 2020, according to our econometric models.

Nigeria Manufacturing PMI
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Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 28.60 28.10 41.10 -29.00 Index Points [+]
Industrial Production -10.50 -10.30 20.10 -20.40 percent [+]
Manufacturing Production 0.40 0.20 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 57.90 57.60 61.10 41.90 [+]
Crude Oil Rigs 15.00 15.00 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 56.40 54.60 59.10 46.30 [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 58.80 58.70 62.30 41.00 [+]
Mining Production -25.90 28.00 48.20 -34.10 percent [+]


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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
57.90 57.60 61.10 41.90 2014 - 2019 Monthly




Country Last Previous
Australia 53.10 Aug/19
Brazil 52.50 Aug/19
Canada 49.10 Aug/19
China 50.40 Aug/19
Euro Area 47.00 Aug/19
France 51.10 Aug/19
Germany 43.50 Aug/19
India 51.40 Aug/19
Indonesia 49.00 Aug/19
Italy 48.70 Aug/19
Japan 49.30 Aug/19
Mexico 49.00 Aug/19
Netherlands 51.60 Aug/19
Russia 49.10 Aug/19
Saudi Arabia 57.00 Aug/19
Singapore 49.90 Aug/19
South Africa 45.70 Aug/19
South Korea 49.00 Aug/19
Spain 48.80 Aug/19
Switzerland 47.20 Aug/19
Turkey 48.00 Aug/19
United Kingdom 47.40 Aug/19
United States 50.30 Aug/19


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