Purchasing Managers Index (PMI), manufacturing in Nigeria, January, 2020
For that indicator, Central Bank of Nigeria provides data for Nigeria from 2014 to 2020. The average value for Nigeria during that period was 52.6 index points with a minimum of 41.9 index points in June 2016 and a maximum of 61.1 index points in December 2018.
Click on the following link to see the values of Purchasing Managers Index (PMI), manufacturing
around the world.
* indicates monthly or quarterly data series
Measure: index points
Source: Central Bank of Nigeria
Definition: The manufacturing Purchasing Managers Index (PMI) is an indicator of economic health for the manufacturing sector. The purpose of the PMI is to provide information about current business conditions to company decision makers, analysts and purchasing managers. Each country PMI survey for the manufacturing sector is based on questionnaire responses that cover the following economic variables: output, new orders, new export orders, backlogs of work, output prices, input prices, suppliers’ delivery times, stocks of finished goods, quantity of purchases, stocks of purchases, employment, future output.
The manufacturing PMI is a number from 0 to 100. A PMI above 50 represents an expansion when compared with the previous month. A PMI reading under 50 represents a contraction, and a reading at 50 indicates no change.