The Central Bank of Nigeria Manufacturing PMI decreased further to 41.1 in June of 2020 from 42.4 in the prior month. The reading pointed to the steepest contraction in manufacturing activity since available records began in July of 2014, amid steeper declines in new orders (36.4 vs 42.8 in May); export orders (25.9 vs 36.3) and output (36.6 vs 44.5). Meanwhile, both employment (38.8 vs 24.5) and raw materials inventories (41.0 vs 37.4) fell at a softer pace. On the price front, input inflation accelerated (67.2 vs 61.4), but output charge inflation remained steady (at 53.2).
Manufacturing Pmi in Nigeria averaged 52.36 points from 2014 until 2020, reaching an all time high of 61.10 points in December of 2018 and a record low of 41.10 points in June of 2020. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Central Bank of Nigeria
Manufacturing Pmi in Nigeria is expected to be 43.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Nigeria to stand at 53.00 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 54.00 points in 2021 and 56.00 points in 2022, according to our econometric models.