Nigeria Manufacturing PMI

The Central Bank of Nigeria Manufacturing PMI edged down to 57.4 in June 2019 from 57.8 in the previous month. The reading pointed to expansion in the manufacturing sector for the twenty-seventh straight month, but at the softest patch since March, as total new orders growth slowed (55.9 from 56.9 in May). Meanwhile, output (59.3 from 59.1), employment (57.5 from 57.3) and quantity of purchases (52.1 from 51.5) advanced faster. Also, export orders fell slightly less (38 from 37.7). On the price front, both input inflation (62.7 from 62.2) and output charge inflation (52.4 from 52.3) quickened. Manufacturing Pmi in Nigeria averaged 51.90 from 2014 until 2019, reaching an all time high of 61.10 in December of 2018 and a record low of 41.90 in June of 2016.

Manufacturing Pmi in Nigeria is expected to be 57.60 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 58.80 in 12 months time. In the long-term, the Nigeria Manufacturing PMI is projected to trend around 60.00 in 2020, according to our econometric models.

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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	[+]

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. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on July of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	57.40	57.80	61.10	41.90	2014 - 2019		Monthly

Country	Last		Previous	Range
Australia	49.43	Jun/19	52.72	62.5 : 29.47
Brazil	51.00	Jun/19	50.2	53.5 : 41.6
Canada	49.20	Jun/19	49.1	57.1 : 47.5
China	49.40	Jun/19	50.2	52.3 : 47.2
Euro Area	47.60	Jun/19	47.7	60.6 : 33.5
France	51.90	Jun/19	50.6	58.8 : 42.7
Germany	45.00	Jun/19	44.3	63.3 : 32
India	52.10	Jun/19	52.7	55 : 47.9
Indonesia	50.60	Jun/19	51.6	58.5 : 46.4
Italy	48.40	Jun/19	49.7	59 : 47.4
Japan	49.30	Jun/19	49.8	56.2 : 29.6
Mexico	49.20	Jun/19	50	57.1 : 49.2
Netherlands	50.70	Jun/19	52.2	63.4 : 48
Russia	48.60	Jun/19	49.8	54.7 : 47.6
Saudi Arabia	57.40	Jun/19	57.3	61.8 : 51.4
Singapore	49.60	Jun/19	49.9	53.1 : 48.3
South Africa	46.20	Jun/19	45.4	60.87 : 35.09
South Korea	47.50	Jun/19	48.4	52.6 : 45.7
Spain	47.90	Jun/19	50.1	56.1 : 41.1
Switzerland	47.70	Jun/19	48.6	66.9 : 32.8
Turkey	47.90	Jun/19	45.3	55.7 : 42.7
United Kingdom	48.00	Jun/19	49.4	61.5 : 34.4
United States	50.60	Jun/19	50.5	57.9 : 50.5