Nigeria PMI October 2018

Nigeria

Nigeria: PMI plunges in October

November 5, 2018

Economic conditions weakened in Nigeria at the start of the fourth quarter. The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) came in at 54.4, notably below September’s 56.3. Despite the fall, the PMI lies far above the 50-point threshold that separates expansion from contraction in business conditions, pointing to robust growth in the private sector.

Weaker growth in new orders and output drove October’s moderation. In addition, inflationary pressures built in the month, with input cost inflation and output prices rising. On a bright note, firms added jobs for the 18 consecutive month in October.

FocusEconomics Consensus Forecast panelists expect fixed investment growth to reach 2.2% in 2019, which is unchanged from last month’s forecast. In 2020, fixed investment is seen increasing 1.7%.


Author:,

Sample Report

Looking for forecasts related to PMI in Nigeria? Download a sample report now.

Download

Nigeria PMI Chart


Nigeria PMI October 2018

Note: Purchasing Managers’ Index. Readings above 50 indicate an expansion in business conditions while readings below 50 point to a contraction.
Source: Stanbic IBTC Bank Nigeria and IHS Markit.


Nigeria Economic News

  • Nigeria: Inflation continues downward trend in September

    October 15, 2021

    Consumer prices rose 1.15% in September, up from August’s 1.02% increase.

    Read more

  • Nigeria: PMI edges up in September

    October 4, 2021

    Operating conditions in Nigeria’s private sector improved at a fractionally stronger pace at the close of the third quarter, with the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) inching up to 52.3 in September from 52.2 in August.

    Read more

  • Nigeria: Central Bank stays put in September

    September 17, 2021

    At its 16–17 September meeting, the Monetary Policy Committee of the Central Bank of Nigeria decided to leave all policy parameters unchanged, keeping the monetary policy rate at 11.50%, the asymmetric corridor at plus 100 and minus 700 basis points around the monetary policy rate, the cash reserve ratio at 27.50%, and the liquidity ratio at 30.00%. In deliberating its decision, the Committee noted that inflation has continued to decline, and the economic recovery has seemingly gained traction in the second and third quarters.

    Read more

  • Nigeria: Inflation ticks down to seven-month low in August

    September 16, 2021

    Consumer prices rose 1.02% in August, up from July’s 0.93% increase.

    Read more

  • Nigeria: PMI dips in August

    September 3, 2021

    Private sector business conditions in Nigeria improved at a softer pace in August, with the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) dropping to 52.2 from the 18-month high of 55.4 in July.

    Read more

More news

Search form