The Manufacturing PMI in the month of November stood at 59.3 index points, indicating expansion in the manufacturing sector for the thirty-second consecutive month. The index grew at a faster rate when compared to the index in October. Thirteen of the 14 surveyed subsectors reported growth in the review month in the following order: transportation equipment; petroleum & coal products; furniture & related products; electrical equipment; plastics & rubber products; food, beverage & tobacco products; nonmetallic mineral products; printing & related support activities; cement; fabricated metal products; primary metal; chemical & pharmaceutical products; and textile, apparel, leather & footwear. The paper products subsector recorded decline in the review period.
At 60.1 points, the production level index for the manufacturing sector grew for the thirty-third consecutive month in November 2019. The index indicated a faster growth in the current month when compared to its level in October 2019. Eleven of the 14 manufacturing subsectors recorded an increased production level, while 3 recorded decline.
The November 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period November 12-18, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). The Bank makes no representation regarding the individual companies, other than the information they have provided. The data contained herein further provides input for policy decisions.
At 59.4 points, the new orders index grew for the thirty-second consecutive month, indicating an increase in new orders in November 2019. The index grew at a faster rate when compared to its level in October 2019. Ten subsectors reported growth, while 4 remained unchanged in the review month.
Supplier Delivery Time
The manufacturing supplier delivery time index stood at 58.7 points in November 2019, indicating faster supplier delivery time. The index has recorded growth for thirty consecutive months. Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while 2 declined in the review period.
The employment level index for November 2019 stood at 57.7 points, indicating growth in employment level for the thirty-first consecutive month. Of the 14 subsectors, 10 reported increased employment level, 1 reported unchanged employment level while 3 reported decreased employment in the review month.
Raw material Inventories
The Manufacturing sector inventories index grew for the thirty-second consecutive month in November 2019. At 60.6 points, the index grew at a faster rate when compared to its level in October 2019. Twelve of the 14 subsectors recorded growth, while 2 reported declined raw material inventories in the review month.