The Central Bank of Nigeria composite PMI for the manufacturing sector edged down to 49.6 in December of 2020 from 50.2 in November, pointing to a renewed contraction in the country's manufacturing activity. Decreases were seen in export orders (33.1 vs 35.4 in November), employment (46.3 vs 47.3) and purchasing activity (49 vs 51.7). In addition, both output (51.6 vs 51.7) and new orders (50.2 vs 50.5) increased at weaker rates. On the price front, both input (73 vs 71.7) and output price inflation (61.4 vs 60.1) accelerated. source: Central Bank of Nigeria

Manufacturing PMI in Nigeria averaged 52.04 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 January of 2021.

Manufacturing 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 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.

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Nigeria Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.60 50.20 61.10 41.10 2014 - 2020 points Monthly


News Stream
Nigeria Factory Activity Shrinks in December
The Central Bank of Nigeria composite PMI for the manufacturing sector edged down to 49.6 in December of 2020 from 50.2 in November, pointing to a renewed contraction in the country's manufacturing activity. Decreases were seen in export orders (33.1 vs 35.4 in November), employment (46.3 vs 47.3) and purchasing activity (49 vs 51.7). In addition, both output (51.6 vs 51.7) and new orders (50.2 vs 50.5) increased at weaker rates. On the price front, both input (73 vs 71.7) and output price inflation (61.4 vs 60.1) accelerated.
2020-12-28
Nigeria Factory Activity Stabilizes in November
The Central Bank of Nigeria composite PMI for the manufacturing sector rose to 50.2 in November of 2020 from 49.4 in October, halting six consecutive months of declines. Output expanded (51.7 vs 50 in October) and purchasing activity recovered (51.7 vs 47.8), while new orders slowed (50.5 vs 51.2). Meantime, employment (47.3 vs 46), raw materials inventories (48.5 vs 46.2) and export orders (35.4 vs 33.4) fell at slower rates. On the price front, both input (71.7 vs 70.9) and output price inflation (60.1 vs 60) increased.
2020-11-18
Nigeria Factory Activity Shrinks for 6th Month
The Central Bank of Nigeria composite PMI for the manufacturing sector rose to 49.4 in October of 2020 from 46.9 in September, pointing to the 6th straight month of contraction in factory activity. Still, the rate of decline was the softest in the current sequence, as new orders rebounded (51.2 vs 46.4 in September) and output stabilized (50 vs 47.3). In addition, employment (46 vs 44.1), export orders (33.4 vs 32.7) and raw materials inventories (46.2 vs 43) fell at slower rates. On the price front, both input (70.9 vs 69.8) and output price inflation (60 vs 58.8) increased.
2020-10-27
Nigeria Factory Activity Shrinks for 5th Month
The Manufacturing PMI for Nigeria fell to 46.9 in September of 2020 from 48.5 in August, pointing to a 5th straight month of contraction in factory activity. Production (47.3 vs 49.2), new orders (46.4 vs 49.2), export orders (32.7 vs 31.8), employment (44.1 vs 44.6) and raw materials inventories (43 vs 46.1) continued to fall at marked rates while both input (69.8 vs 66.8) and output price inflation (58.8 vs 58.4) increased.
2020-09-25

Nigeria Manufacturing PMI
The Composite Manufacturing PMI measures the performance of the 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. The PMI is presented as an average of variables with the following weights: production level (25 percent), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change.