The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 62.1 in December 2019 from 60.1 in the previous month. The reading pointed to the fastest expansion in the services sector since December last year, driven by business activity (62.6 from 60.0 in November); new orders (61.9 from 60.7); employment (60.8 from 58.4) and inventories (63.1 from 61.5). Also, export orders shrank less (43.2 from 41.6). On the price front, input inflation quickened (56.0 from 54.6).

Services Pmi in Nigeria averaged 53.35 points from 2014 until 2019, reaching an all time high of 62.30 points in December of 2018 and a record low of 41 points in September of 2016. This page provides - Nigeria Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Central Bank of Nigeria

Services Pmi in Nigeria is expected to be 58.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Nigeria to stand at 58.10 in 12 months time. In the long-term, the Nigeria Non Manufacturing PMI is projected to trend around 61.70 points in 2020, according to our econometric models.


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Nigeria Non Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
62.10 60.10 62.30 41.00 2014 - 2019 points Monthly

News Stream
2019-11-28
Nigeria Services PMI at 10-Month High
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 60.1 in November 2019 from 58.2 in the previous month. The reading pointed to the quickest expansion in the services sector since January, driven by business activity (60.7 from 57.9 in October); new orders (60.7 from 58.5); employment (58.4 from 57.1) and inventories (61.5 from 59.2). Also, export orders fell at a softer pace (41.6 from 40.4). In terms of prices, input inflation continued to climb (54.6 from 52.2).

2019-10-31
Nigeria Services PMI Edges Up in October
The Central Bank of Nigeria composite PMI for the non-manufacturing sector increased to 58.2 in October 2019 from 58.0 in the previous month. Business activity (57.9 from 58.2 in September), new orders (58.5 from 58.4) and inventories (59.2 from 58.5) continued to advance at a solid pace. Meanwhile, a deterioration was seen in employment (57.1 from 58.0) and export orders (40.4 from 42.4). In terms of prices, input inflation quickened (52.2 from 51.9).

2019-09-24
Nigeria Non-Manufacturing PMI at Near 1-Year Low
The Central Bank of Nigeria composite PMI for the non-manufacturing sector fell to 58.0 in September 2019 from 58.8 in the previous month. The reading pointed to the slowest expansion in the country's services sector since last October, amid softer rises in business activity (57.2 from 58.2 in August), new orders (58.4 from 59.6) and inventories (58.5 from 59.8). Also, export orders decreased faster (42.4 from 44.1) while imports fell at a slower pace (45.7 from 45.2). On a more positive note, employment increased further (58.0 from 57.8). In terms of prices, input cost inflation edged higher (51.9 from 51.2).

2019-08-26
Nigeria Non-Manufacturing PMI at 3-Month High
The Central Bank of Nigeria composite PMI for the non-manufacturing sector rose to 58.8 in August 2019 from 58.7 in the prior month. The reading pointed to the strongest expansion in the country's services sector since May, as business activity (58.2 from 57.6 in July) and inventories (59.8 from 58.9) increased faster. On the other hand, slower rises were seen in new orders (59.6 from 60.1) and employment (57.8 from 58.0). At the same time, export orders (44.1 from 42.0) and backlogs of work (45.1 from 41.4) declined less. In terms of prices, input inflation fell slightly (51.2 from 51.7).

2019-07-31
Nigeria Non-Manufacturing PMI Rises in July
The Central Bank of Nigeria composite PMI for the non-manufacturing sector edged up to 58.7 in July of 2019 from 58.6 in the previous month. New orders (60.1 vs 59.2 in June) and inventories (58.9 vs 58.8) went up at a faster rate while business activity (57.6 vs 58.2) and employment (58 vs 58.3) increased less. On the other hand, new export orders (42 vs 43) and imports (43.9 vs 45.3) dropped further. Meantime, average input price inflation slowed (51.7 vs 52.1).

2019-07-02
Nigeria Non-Manufacturing PMI at 3-Month Low
The Central Bank of Nigeria composite PMI for the non-manufacturing sector fell slightly to 58.6 in June 2019 from 58.9 in the previous month. The reading pointed to the twenty-sixth month of expansion in the services sector, but marking the slowest growth since March, as business activity (58.2 from 59.2 in May); employment (58.3 from 58.5) and inventories (58.8 from 59.3) rose less. Meanwhile, export orders decreased at a softer pace (43 from 39.8). In terms of prices, input price inflation (52.1 from 51.3) was higher.


Nigeria Non Manufacturing PMI
The Composite Non-Manufacturing PMI measures the performance of the non 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 and is presented as an average of: production level (25 percent of weight), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). 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.

Nigeria Business Last Previous Highest Lowest Unit
Business Confidence 30.30 29.00 41.10 -29.00 points [+]
Industrial Production -2.90 4.70 20.10 -20.40 percent [+]
Manufacturing Production 2.00 4.70 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 60.80 59.30 61.10 41.90 points [+]
Crude Oil Rigs 17.00 20.00 20.00 3.00 [+]
Ease of Doing Business 131.00 146.00 170.00 120.00 [+]
Corruption Index 26.00 27.00 28.00 6.90 Points [+]
Corruption Rank 146.00 144.00 152.00 52.00 [+]
Changes In Inventories 156043.05 146816.73 178909.34 32488.05 NGN Million [+]
Competitiveness Index 48.33 47.53 48.33 3.37 Points [+]
Competitiveness Rank 116.00 115.00 127.00 94.00 [+]
Composite Pmi 56.80 57.70 59.10 46.30 points [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Services Pmi 62.10 60.10 62.30 41.00 points [+]
Mining Production 5.70 5.70 48.20 -34.10 percent [+]