The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 58.4 in November of 2018 from 57 in the previous month. The figure pointed to the fastest expansion in the non-manufacturing sector since January, as business activity (60.4 from 58.3 in October); new orders (57.5 from 56.4) and employment (56.2 from 55.7) rose further. Meanwhile, new export continued to fall (38.7 from 39.7), remaining in contraction territory. On the price front, input price inflation accelerated (52.6 from 50.7). Services Pmi in Nigeria averaged 51.88 from 2014 until 2018, reaching an all time high of 62.10 in December of 2017 and a record low of 41 in September of 2016.

Services Pmi in Nigeria is expected to be 57.30 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Nigeria to stand at 57.89 in 12 months time. In the long-term, the Nigeria Non Manufacturing PMI is projected to trend around 52.75 in 2020, according to our econometric models.

Nigeria Non Manufacturing PMI
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Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 25.90 23.20 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 57.90 56.80 59.30 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 55.50 54.40 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 58.40 57.00 62.10 41.00 [+]


Nigeria Non Manufacturing PMI

The Composite Non-Manufacturing PMI measures the performance of the non 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 and is presented as an average of: production level (25 percent of weight), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). 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 Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Non Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
58.40 57.00 62.10 41.00 2014 - 2018 Monthly




Country Last Previous
Australia 55.10 Nov/18
Brazil 51.30 Nov/18
China 53.80 Nov/18
Euro Area 51.40 Dec/18
France 49.60 Dec/18
Germany 52.50 Dec/18
India 53.70 Nov/18
Italy 50.30 Nov/18
Japan 52.30 Nov/18
Russia 55.60 Nov/18
Spain 54.00 Nov/18
United Kingdom 50.40 Nov/18
United States 54.70 Nov/18


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