Nigeria’s Manufacturing PMI grows to 60.8% in December 2019 from 59.3% in November 2019

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The Manufacturing PMI in the month of December stood at 60.8 index points, indicating expansion in the manufacturing sector for the thirty-third consecutive month. The index grew at a faster rate when compared to the index in November. All the 14 surveyed subsectors reported growth in the review month in the following order: petroleum & coal products; transportation equipment; plastics & rubber products; food, beverage & tobacco products; fabricated metal products; furniture & related products; primary metal; chemical & pharmaceutical products; printing & related support activities; textile, apparel, leather & footwear; cement; paper products; electrical equipment; and nonmetallic mineral products.

Production Level 

At 61.8 points, the production level index for the manufacturing sector grew for the thirty-fourth consecutive month in December 2019. The index indicated a faster growth in the current month when compared to its level in November 2019. Eleven of the 14 manufacturing subsectors recorded an increased production level, 2 remained unchanged while 1 recorded decline.

New Orders

At 61.5 points, the new orders index grew for the thirty-third consecutive month, indicating an increase in new orders in December 2019. The index grew at a faster rate when compared to its level in November 2019. Twelve subsectors reported growth, 1 remained unchanged while 1 recorded decline in the review month.

Supplier Delivery Time

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The manufacturing supplier delivery time index stood at 60.5 points in December 2019, indicating faster supplier delivery time. The index has recorded growth for thirty-one consecutive months. Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while 2 declined in the review period.

Employment Level

The employment level index for December 2019 stood at 58.0 points, indicating growth in employment level for the thirty-second consecutive month. Of the 14 subsectors, 10 reported increased employment level, 3 reported unchanged employment level while 1 reported decreased employment in the review month.

Raw material Inventories

The Manufacturing sector inventories index grew for the thirty-third consecutive month in December 2019. At 62.4 points, the index grew at a faster rate when compared to its level in November 2019. Twelve of the 14 subsectors record ed growth, while 2 reported declined raw material inventories in the review month.

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