Manufacturing index expands in August

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

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

Central Bank, Deputy Governor, CBN

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 […]