Nigeria’s February PMI shows strongest productivity growth in 14 months
Post AMUGE
March 10, 2025
Onome Amuge The Nigerian economy experienced its fastest growth in productivity since January 2024 in February 2025, according to the recent Purchasing Manager’s Index (PMI) report from Stanbic IBTC Bank. This is as the headline figure jumped from 52.0 in January 2025 to 53.7 in February 2025. February 2025’s upturn in the PMI score not […]
Nigeria’s economic activities endure 13th consecutive month of decline as PMI falls to 49.7 in July
Post AMUGEAugust 15, 2024
Business a.m. The Central Bank of Nigeria (CBN) revealed that the Purchasing Managers Index (PMI) for July 2024 recorded a value of 49.7, indicating a continuous contraction of the country’s economic activity for 13 consecutive months. The PMI is a widely used indicator of economic health and can provide valuable insights into the current state […]
PMI index sinks to record-low 49.2 as inflationary pressures hammer business optimism
Post AMUGEAugust 2, 2024
Business a.m. Nigeria’s private sector saw a decline in business confidence during July, with the Stanbic IBTC Bank Purchasing Managers Index (PMI) dropping to a record low of 49.2 from the previous month’s 50.1. This marks the first time in eight months that the PMI has fallen below the 50.0 no-change mark, signifying a plunge […]
CBN September PMI sends early warning sign on state of economy
Aderemi OjekunleSeptember 25, 2020
Charles Abuede Slides to 46.9 points, down for fifth month in a row The recently released CBN’s Purchasing Managers Index (PMI) for the month of September, 2020 could be an early warning sign for the Nigerian economy of what lies ahead should the declining trend continue. In the last five months the index has posted […]
PMI records slow growth in February
Businessam StaffMarch 3, 2020
The manufacturing purchasing Managers index (PMI) stood at 58.3 index points in February, indicating expansion in the manufacturing sector for the 35th consecutive month. However, the index grew at a slower rate when compared to the index in January. The Central Bank of Nigeria (CBN) disclosed this in its PMI report for February, 2020, posted […]
Manufacturing index expands in August
Businessam StaffAugust 27, 2019
The Manufacturing purchasing mmanagers’ Index (PMI) stood at 57.9 index points, indicating an expansion in the manufacturing sector for the 29th consecutive month. The index grew at a faster rate when compared to the index in July. According to the Central Bank of Nigeria’s (CBN) PMI report for August 2019, of the 14 sub-sectors surveyed, […]
PMI expands in July amidst weakening manufacturers’ confidence
Businessam StaffAugust 2, 2019
Although the Central Bank of Nigeria (CBN) reported an expansion in the country’s manufacturing purchasing managers index (PMI) for the month of July (57.6 points), local manufacturers’ confidence in the economy has dropped in the second quarter. Manufacturing and non-manufacturing PMI points are aggregated by the CBN following a survey conducted by its statistics department. […]
Analysts say CBN’s February PMI shows manufacturers’ optimism in economy
Ajose SehindemiMarch 5, 2018
Analysts at Lagos-based Cordros Capital have said the latest Purchasing Managers Index (PMI) data released by the Statistics Department of the Central Bank of Nigeria (CBN) shows that business owners and manufacturers are more optimistic about the prospects of the broader economy than a year ago. The manufacturing PMI in the month of February stood […]