Nigeria - PMI manufacturier

The Central Bank of Nigeria Manufacturing PMI rose to 59.3 in November 2019 from 58.2 in the previous month. The reading pointed to the fastest expansion in factory activity since December, amid increases in output (60.1 from 59.3 in October); new orders (59.4 from 57.9); employment (57.7 from 56.8); raw material inventories (60.6 from 58.6) and quantity of purchases (55.8 from 53.7). Also, export orders declined at a slightly slower pace (41.0 from 40). On the price front, both input inflation (59.3 from 58.4) and output charge inflation (53.1 from 52.1) accelerated.

The Central Bank of Nigeria Manufacturing PMI rose to 58.2 in October 2019 from 57.7 in the previous month. The reading pointed to the fastest expansion in factory activity since January, amid increases in output (59.3 from 58.5 in September), new orders (57.9 from 57.2), employment (56.8 from 56.6) and raw materials inventories (58.6 from 58.1). In addition, export orders declined slightly less (40.0 from 39.0). On the price front, input inflation eased (58.4 from 58.8) while output charge inflation quickened (52.5 from 51.9).

The Central Bank of Nigeria Manufacturing PMI dropped to 57.7 in September of 2019 from 57.9 in the previous month. Output (58.5 from 58.7 in August), employment (56.6 from 57.1) and raw materials inventories (58.1 from 58.7) rose less despite total new orders increased slightly faster (57.2 from 57.1). In addition, export orders fell at a sharper pace (39.0 from 39.9). On the price front, both input cost inflation (58.8 from 57.0) and output charge inflation (51.9 from 50.3) strengthened.

The Central Bank of Nigeria Manufacturing PMI rose to 57.9 in August of 2019, its highest since December, from 57.6 in the prior month. Faster Increases were seen in supplier delivery time (58.3 from 57.5 in July); raw materials inventories (58.7 from 56.2) and stocks of finished products (52.1 from 51.5). Meanwhile, output (58.7 from 58.9); new orders (57.1 from 57.2) and employment (57.1 from 57.3) grew at a slower pace. Also, export orders fell further (39.9 from 41.1). On the price front, both input inflation (57.0 from 59.5) and output charge inflation (50.3 from 52.2) softened.

The Central Bank of Nigeria Manufacturing PMI increased to 57.6 in July of 2019 from a three-month low of 57.4 in the previous month. New orders (57.2 vs 55.9 in June) and stock of finished goods (51.5 vs 51.1) rose faster while production (58.2 vs 59.3) and employment (57.3 vs 57.5) went up at a softer pace. Meantime, new export orders dropped further (41.1 vs 38). On the price front, both input inflation (59.5 vs 62.7) and output price inflation (52.2 vs 52.4) slowed.

The Central Bank of Nigeria Manufacturing PMI edged down to 57.4 in June 2019 from 57.8 in the previous month. The reading pointed to expansion in the manufacturing sector for the twenty-seventh straight month, but at the softest patch since March, as total new orders growth slowed (55.9 from 56.9 in May). Meanwhile, output (59.3 from 59.1), employment (57.5 from 57.3) and quantity of purchases (52.1 from 51.5) advanced faster. Also, export orders fell slightly less (38 from 37.7). On the price front, both input inflation (62.7 from 62.2) and output charge inflation (52.4 from 52.3) quickened.