The Central Bank of Nigeria composite PMI for the non-manufacturing sector fell to 41.9 in September of 2020 from 44.7 in August, pointing to the 6th straight month of contraction in the non-manufacturing sector. business activity (43.7 vs 47.4), new orders (39.5 vs 44), employment (41.6 vs 44.3), inventories (43.1, the same as in August)and new export orders (32.8 vs 34.2) continued to fall at marked paces. Meanwhile, input price pressures slowed (51.2 vs 53.5).

Services Pmi in Nigeria averaged 52.43 points from 2014 until 2020, reaching an all time high of 62.30 points in December of 2018 and a record low of 25.30 points in May of 2020. This page provides - Nigeria Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Non Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Central Bank of Nigeria

Services Pmi in Nigeria is expected to be 47.00 points 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 53.40 in 12 months time. In the long-term, the Nigeria Non Manufacturing PMI is projected to trend around 54.00 points in 2021 and 56.00 points in 2022, according to our econometric models.

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Nigeria Non Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
41.90 44.70 62.30 25.30 2014 - 2020 points Monthly


News Stream
Nigeria Non Manufacturing Sector Extends the Decline
The Central Bank of Nigeria composite PMI for the non-manufacturing sector fell to 41.9 in September of 2020 from 44.7 in August, pointing to the 6th straight month of contraction in the non-manufacturing sector. business activity (43.7 vs 47.4), new orders (39.5 vs 44), employment (41.6 vs 44.3), inventories (43.1, the same as in August)and new export orders (32.8 vs 34.2) continued to fall at marked paces. Meanwhile, input price pressures slowed (51.2 vs 53.5).
2020-09-25
Nigeria Services Sector Contraction Continues to Soften
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 44.7 in August of 2020 from 43.3 in the prior month, pointing to the softest contraction since March amid government efforts to reopen further the economy. Improvements were seen in all components: business activity (47.4 vs 46.1 in July); new orders (44 vs 43.4); export orders (34.2 vs 31); employment (44.3 vs 41.1) and inventories (43.1 vs 42.7). On the price front, input prices rose faster (53.5 vs 50.9).
2020-08-28
Nigeria Services Sector Contracts at Softer Pace
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 43.3 in July 2020 from 35.7 in the previous month, pointing to a softer contraction as the country entered Phase 2 of its coronavirus lockdown exit. Slower declines were seen in all components: business activity (46.1 vs 34.3 in June); new orders (43.4 vs 32.5); export orders (31 vs 27); employment (41.1 vs 37.4) and inventories (42.7 vs 38.5). On the price front, input prices rose (50.9 vs 46.7).
2020-07-31
Nigeria Services Sector Contraction Softens in June
The Central Bank of Nigeria composite PMI for the non-manufacturing sector rose to 35.7 in June of 2020 from a record low of 25.3 in the previous month. Slower declines were seen in all components: business activity (34.3 vs 19.5 in May); new orders (32.5 vs 19.6); export orders (27 vs 22.6); employment (37.4 vs 32) and inventories (38.5 vs 30.1). In terms of prices, input costs fell at a slower pace (46.7 vs 42.6).
2020-06-25

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.