The Central Bank of Nigeria Manufacturing PMI fell to 56.2 in September of 2018 from 57.1 in August. The reading pointed to the weakest expansion in factory activity since November last year, as output (58.4 from 59.3 in August); new orders (55.3 from 56.9) and employment (54.9 from 55.5) increased at a softer pace.
In addition, purchasing activity fell into contraction territory (49.4 from 50.1). On the price front, input price inflation slowed (57.5 from 59.3) while output inflation accelerated (52.4 from 50.1). Manufacturing Pmi in Nigeria averaged 50.83 from 2014 until 2018, reaching an all time high of 59.30 in December of 2017 and a record low of 41.90 in June of 2016.
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 October of 2018.
