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Nigeria: Manufacturing PMI drops to 42.4

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The Manufacturing Purchasing Managers’ Index (PMI) for May dropped to 42.4 from 51.1 points in March. This is the lowest since April 2017. The index measures monthly changes in business performance, based on surveys carried out by business executives across the country. An index below 50 indicates a contraction in the economy. Of all the 14 subsectors surveyed, only the electrical equipment sector recorded a growth figure.

The May 2020 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period May 14-19, 2020. 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.

The Manufacturing PMI in the month of May stood at 42.4 index points, indicating contraction in the manufacturing sector for the first time after recording expansion for thirty-six consecutive months.

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Of the 14 surveyed subsectors, only the electrical equipment sector reported growth (above 50% threshold) in the review month, while the remaining 13 subsectors reported declines in the following order cement; petroleum & coal products; printing & related support activities; furniture & related products; textile, apparel, leather and footwear; paper products; fabricated metal products; food, beverage & tobacco products; chemical & pharmaceutical products; transportation equipment; plastics & rubber products; nonmetallic mineral products; appliances and components and primary metal.

Production Level

At 44.5 points, the production level index for the manufacturing sector declined in May 2020 after thirty-seven consecutive months of recorded growth. One subsector recorded an increased production level, 4 remained unchanged, while nine subsectors recorded declines in production in May 2020.

New Orders

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At 42.8 points, the new orders index declined after thirty-sixth consecutive months of growth, indicating declines in new orders in May 2020. Three subsectors reported growth, 2 remained unchanged while 9 recorded declines in the review month.

Supplier Delivery Time

The manufacturing supplier delivery time index stood at 65.2 points in May 2020, indicating growth in supplier delivery time. The index recorded growth from the contraction level of March 2020. Five of the 14 subsectors recorded improved suppliers’ delivery time, 4 subsectors reported no change while 5 recorded slower delivery time in March 2020.

Employment Level

Read Also:  Manufacturing PMI Stands at 57.6% in Jul 2019 from 57.4% in Jun 2019
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The employment level index for May 2020 stood at 24.5 points, indicating a decline in employment level for the second month. Of the 14 subsectors, one subsector remains unchanged, while the remaining 13 subsectors recorded lower employment level in the review month.

Raw material Inventories

The manufacturing sector inventories index contracted for the second time in May 2020. At 37.4 points, the index further dipped when compared to its level in March 2020. All the 14 subsectors recorded reported lower raw material inventories in the review month.

Non-Manufacturing PMI Report

Business activity, new orders, employment level and inventories contracted in May 2020. The composite PMI for the non-manufacturing sector stood at 25.3 points in May 2020, indicating contraction in Nonmanufacturing PMI for the second consecutive month. The index declined below the turning point of 50 points in the review month.

All of the 17 subsectors surveyed subsectors recorded declines (below the 50% threshold) in the following order: construction; repair, maintenance/washing of motor vehicles…; electricity, gas, steam & air conditioning supply; educational services; agriculture; finance & insurance; information & communication; water supply, sewage & waste management; accommodation & food services; real estate, rental & leasing; professional, scientific, & technical services; wholesale trade; health care & social assistance; management of companies; transportation & warehousing; arts, entertainment & recreation; utilities.

Business Activity

At 19.5 points, the business activity index declined for the first time after recording growth for thirty-six consecutive months, indicating contraction in non-manufacturing business activity in May 2020. All the 17 surveyed subsectors recorded declines in business activity in the review month.

New Orders

At 19.6 points, the new orders index declined for the second time in May 2020. Of the 17 surveyed subsectors, 1 remained unchanged while 16 subsectors recorded declines in new orders during the review period.

Employment Level

The employment level Index for the non-manufacturing sector stood at 32.0 points, indicating a decrease in employment level in the review month. Of the 17 surveyed subsectors, 1 subsector recorded no change while 16 subsectors recorded declines in the employment level.

Non-manufacturing Inventory

At 30.1 points, non-manufacturing inventory index dipped for the second consecutive month. This indicates a decrease in inventories in the review period. From the surveyed subsectors, one of the 17 subsectors reported no change, while 16 subsectors recorded declines in inventories in the review period.

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Nigeria: Manufacturing PMI drops to 42.4 - Brand Spur

Trend Micro Placed in 2021 Magic Quadrant for Endpoint Protection Platforms

Recognized for Completeness of Vision and Ability to Execute

 

HONG KONG SAR - Media OutReach - 13 May 2021 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced that it has been positioned by Gartner as a Leader in the Magic Quadrant for Endpoint Protection Platform for its offering, Trend Micro Apex One. The evaluation was based on specific criteria that analyzed the company's overall completeness of vision and ability to execute.


Trend Micro is continually innovating and anticipating emerging threats. Our flagship Apex One endpoint protection platform features broad coverage against today's most critical threats. Our customers are protected using a range of techniques including virtual patching, which immediately protects against exploits until the vendor patch is applied.

Read Also:  Manufacturing PMI Stands at 57.0% in June 2018 from 56.5% in May 2018


Read the full Magic Quadrant for Endpoint Protection Platform report at: https://resources.trendmicro.com/Gartner-Magic-Quadrant-Endpoints.html

"The endpoint has become a key battleground as determined threat actors try to take advantage of the pandemic to target distributed workforces and vulnerable remote access infrastructure. But throughout this difficult period, we've been there for our customers," said Wendy Moore, vice president of product marketing for Trend Micro. "I'm delighted to see us recognized again for doing what we do best: Protecting global organizations through innovative, cloud-first and platform-based security. We will continue to focus on offering simple, robust and industry-leading protection through our cybersecurity platform."

At the heart of the company's cybersecurity platform is Trend Micro Vision One, which delivers visibility and XDR using telemetry from Apex One in addition to email, servers, cloud workloads and networks for faster detections and investigations.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.

* Gartner disclaimer: Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.


About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk


#TrendMicro


Nigeria: Manufacturing PMI drops to 42.4 - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

Trend Micro Placed in 2021 Magic Quadrant for Endpoint Protection Platforms

Recognized for Completeness of Vision and Ability to Execute

 

HONG KONG SAR - Media OutReach - 13 May 2021 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced that it has been positioned by Gartner as a Leader in the Magic Quadrant for Endpoint Protection Platform for its offering, Trend Micro Apex One. The evaluation was based on specific criteria that analyzed the company's overall completeness of vision and ability to execute.


Trend Micro is continually innovating and anticipating emerging threats. Our flagship Apex One endpoint protection platform features broad coverage against today's most critical threats. Our customers are protected using a range of techniques including virtual patching, which immediately protects against exploits until the vendor patch is applied.


Read the full Magic Quadrant for Endpoint Protection Platform report at: https://resources.trendmicro.com/Gartner-Magic-Quadrant-Endpoints.html

"The endpoint has become a key battleground as determined threat actors try to take advantage of the pandemic to target distributed workforces and vulnerable remote access infrastructure. But throughout this difficult period, we've been there for our customers," said Wendy Moore, vice president of product marketing for Trend Micro. "I'm delighted to see us recognized again for doing what we do best: Protecting global organizations through innovative, cloud-first and platform-based security. We will continue to focus on offering simple, robust and industry-leading protection through our cybersecurity platform."

At the heart of the company's cybersecurity platform is Trend Micro Vision One, which delivers visibility and XDR using telemetry from Apex One in addition to email, servers, cloud workloads and networks for faster detections and investigations.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.

* Gartner disclaimer: Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.


About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk


#TrendMicro


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