The Stanbic IBTC Nigeria PMI increased to 54.8 in June 2019 from 52.9 in the previous month. The reading signalled a marked improvement in business conditions in the Nigerian private sector that was the strongest since December, as both new orders and output rose quicker. Meanwhile, the rate of job creation slowed and was only slight. On the price front, overall input costs rose only marginally and at the slowest pace since January 2015; and the rate of output charge inflation was at an 11-month low as some firms offered discounts to attract customers. Regarding business confidence, sentiment remained strong, linked to business expansion plans, including the opening of new outlets. Composite Pmi in Nigeria is reported by Markit Economics.

Composite Pmi in Nigeria is expected to be 52.70 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Nigeria to stand at 54.70 in 12 months time. In the long-term, the Stanbic IBTC Bank Nigeria PMI is projected to trend around 54.30 in 2020, according to our econometric models.

Stanbic IBTC Bank Nigeria PMI
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Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 29.70 29.20 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 57.40 57.80 61.10 41.90 [+]
Crude Oil Rigs 14.00 14.00 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 54.80 52.90 59.10 46.30 [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 58.60 58.90 62.30 41.00 [+]
Mining Production -25.90 28.00 48.20 -34.10 percent [+]


Stanbic IBTC Bank Nigeria PMI

The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 400 companies from agriculture, manufacturing, services, construction and retail. The Purchasing Managers’ Index is a composite index based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. 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 Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Stanbic IBTC Bank Nigeria PMI - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
54.80 52.90 59.10 46.30 2014 - 2019 Monthly




Country Last Previous
Australia 52.50 Jun/19
Brazil 49.00 Jun/19
China 50.60 Jun/19
Euro Area 52.20 Jun/19
France 52.70 Jun/19
Germany 52.60 Jun/19
India 50.80 Jun/19
Italy 50.10 Jun/19
Japan 50.80 Jun/19
Russia 49.20 Jun/19
Singapore 50.60 Jun/19
South Africa 49.70 Jun/19
United Kingdom 49.70 Jun/19
United States 51.50 Jun/19


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