The Central Bank of Nigeria composite PMI for the non-manufacturing sector fell to 58.0 in September 2019 from 58.8 in the previous month. The reading pointed to the slowest expansion in the country's services sector since last October, amid softer rises in business activity (57.2 from 58.2 in August), new orders (58.4 from 59.6) and inventories (58.5 from 59.8). Also, export orders decreased faster (42.4 from 44.1) while imports fell at a slower pace (45.7 from 45.2). On a more positive note, employment increased further (58.0 from 57.8). In terms of prices, input cost inflation edged higher (51.9 from 51.2). Services Pmi in Nigeria averaged 53.03 from 2014 until 2019, reaching an all time high of 62.30 in December of 2018 and a record low of 41 in September of 2016.

Services Pmi in Nigeria is expected to be 61.00 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 58.70 in 12 months time. In the long-term, the Nigeria Non Manufacturing PMI is projected to trend around 61.70 in 2020, according to our econometric models.

Nigeria Non 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 57.70 57.90 61.10 41.90 [+]
Crude Oil Rigs 17.00 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 48.33 47.53 48.33 3.37 Points [+]
Competitiveness Rank 116.00 115.00 127.00 94.00 [+]
Composite Pmi 57.10 56.40 59.10 46.30 [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 58.00 58.80 62.30 41.00 [+]
Mining Production -25.90 28.00 48.20 -34.10 percent [+]


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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
58.00 58.80 62.30 41.00 2014 - 2019 Monthly




Country Last Previous
Australia 51.50 Sep/19
Brazil 51.80 Sep/19
China 51.30 Sep/19
Euro Area 51.60 Sep/19
France 51.10 Sep/19
Germany 51.40 Sep/19
India 48.70 Sep/19
Italy 51.40 Sep/19
Japan 52.80 Sep/19
Russia 53.60 Sep/19
Spain 53.30 Sep/19
United Kingdom 49.50 Sep/19
United States 50.90 Sep/19


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