The Stanbic IBTC Bank Nigeria PMI rose to 53.8 in April 2022 from an over two-year low of 42.3 in the prior month. The latest reading pointed to a renewed expansion in the country's private sector, after two consecutive months of declines. Both new business and output increased sharply amid an easing of the cash crisis which has severely affected the economy in recent months. Rebounds in activity were seen across each of the agriculture, manufacturing, services and wholesale & retail sectors. Meanwhile, employment fell slightly as companies remained cautious in hiring. On the price front, input costs picked up faster, but further efforts to attract customers led firms to increase their selling prices at the softest pace for three years. Finally, business sentiment remained subdued in April, despite a slight pick-up from March. source: Markit Economics
Composite PMI in Nigeria averaged 53.15 points from 2014 until 2023, 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 June of 2023.
Composite PMI in Nigeria is expected to be 52.00 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 54.40 points in 2024 and 56.00 points in 2025, according to our econometric models.