The Stanbic IBTC Bank Nigeria PMI rose to 51.8 in December of 2020 from 50.9 in the previous month, indicating an overall improvement in business conditions in the Nigerian private sector. Output returned to growth after recent protests had hampered operations in November, while new orders continued to rise and solidly. The rate of job creation meanwhile eased to the softest in four months. Also, exports fell substantially as the pandemic crisis continued to hit demand from abroad. Nigerian businesses increased their purchasing activity which in turn led to a stronger accumulation in stocks of inputs. On the price front, both output and input price inflation were among the sharpest in the respective series histories. Finally, sentiment regarding the year ahead reached a five-month high, fuelled by business expansion plans. source: Markit Economics
Composite PMI in Nigeria averaged 53.20 points from 2014 until 2020, reaching an all time high of 59.10 points in May of 2018 and a record low of 37.10 points in April of 2020. This page provides - Nigeria Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Stanbic IBTC Bank Nigeria PMI - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Composite PMI in Nigeria is expected to be 51.00 points 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 52.00 in 12 months time. In the long-term, the Stanbic IBTC Bank Nigeria PMI is projected to trend around 54.00 points in 2022, according to our econometric models.