The Stanbic IBTC Bank Nigeria PMI rose to 52.3 in September of 2021, from 52.2 in August, pointing to a fifteenth consecutive monthly expansion. New orders, employment and stocks of purchases increased much faster pace, but the rate of growth in output slowed to an eight-month low. Meanwhile, suppliers’ delivery times have improved to the highest level since December 2020. Also, purchasing activity rose sharply, amid efforts to mitigate against future supply and price shocks. On the price front, purchase costs rose at the quickest rate in nearly eight years of data collection, due to higher raw material and commodity costs as well as unfavourable naira-dollar exchange rate movements. Subsequently, output charge inflation was the second-highest on record. Finally, business sentiment improved to a seven-month high amid plans to increase marketing, open more stores and broaden product offerings. source: Markit Economics
Composite PMI in Nigeria averaged 53.18 points from 2014 until 2021, 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 October of 2021.
Composite PMI in Nigeria is expected to be 52.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Stanbic IBTC Bank Nigeria PMI is projected to trend around 53.00 points in 2022 and 54.00 points in 2023, according to our econometric models.