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

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

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

- Advertisement -

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.

Read Also:  Manufacturing PMI Slips Back to Contraction amid Insecurity, Rising Inflation...

Supplier Delivery Time

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

- Advertisement -

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.

DOWNLOAD THE DEC 2019 PMI REPORT

- Advertisement -
Nigeria’s Manufacturing PMI grows to 60.8% in December 2019 from 59.3% in November 2019 - Brand SpurNigeria’s Manufacturing PMI grows to 60.8% in December 2019 from 59.3% in November 2019 - Brand Spur
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigeria’s Manufacturing PMI grows to 60.8% in December 2019 from 59.3% in November 2019 - Brand SpurNigeria’s Manufacturing PMI grows to 60.8% in December 2019 from 59.3% in November 2019 - Brand Spur

Latest News

ILO and LinkedIn launch data insights partnership

The International Labour Organization (ILO), the Partnership for Action on Green Economy (PAGE) and LinkedIn have launched a two-year...

MoneyGram Expands Real-Time Digital P2P Payments with Visa Direct through New Checkout.com Partnership

Customers can use the MoneyGram website or leading mobile app to send money in near real-time to Visa debit cardholders across 575 corridors from...

$85.8m ‘Debt’: Appeal Court Unseals Seplat Petroleum’s Offices

Seplat announces that the Court of Appeal sitting in Lagos has today suspended the Order of Interlocutory Injunctions made by the Lagos Federal High...

Majority Optimistic About Tech in 2021, But Health, Jobs and Environment Top Personal Risk List

Geneva, Switzerland, 22 January 2021 — A new World Economic Forum/Ipsos survey found most adults are optimistic about accessing technology, digital tools and training in the...

Bears Dominated Proceedings in the Equities Market this Week

Equities market closed the week on a bearish note with selloffs witnessed across major tickers. The benchmark All Share Index (ASI) declined by 24bps...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nigeria’s Manufacturing PMI grows to 60.8% in December 2019 from 59.3% in November 2019 - Brand SpurNigeria’s Manufacturing PMI grows to 60.8% in December 2019 from 59.3% in November 2019 - Brand Spur