The Stanbic IBTC Bank Nigeria PMI rose to 56.3 in September of 2018 from 56.1 in the previous month. Both output and new order growth ticked up to respective three-month highs, supported by strong demand from domestic and foreign clients.
Meanwhile, the rate of job creation eased to a 15-month low. As a result, backlogs of work went up at the fastest pace in five months. Meantime, supplier delivery times improved again in September. On the price front, input cost pressures softened markedly, with input price inflation hitting a 12-month low and below the long-run survey average. Output charges continued to advance at a moderate pace. Composite Pmi in Nigeria is reported by Markit Economics.
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 400 companies from agriculture, manufacturing, services, construction and retail.
The Purchasing Managers’ Index is a composite index based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction.
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. This page provides – Nigeria Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Stanbic IBTC Bank Nigeria PMI – actual data, historical chart and calendar of releases – was last updated on October of 2018.