City in Nigeria

Nigeria PMI December 2023

Nigeria: PMI rises to six-month high in December

The Purchasing Managers’ Index (PMI)—produced by Stanbic IBTC Bank and S&P Global—came in at 52.7 in December, up from November’s 48.0. December’s result marked the strongest reading since June. As such, the index rose above the 50.0 no-change threshold, signaling an improvement in sector operating conditions from the previous month.

December’s notable improvement was driven by rebounds in new orders and output, supported by recovering client demand. Against this backdrop, firms increased their purchasing activity and their headcounts. Moreover, vendor performance improved for the tenth consecutive month.

On the price front, input cost inflation softened, but remained historically elevated, while output charge inflation rose. Lastly, business sentiment fell to the joint-lowest since the series began in 2014..

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest