The Manufacturing PMI stood at 59.3 index points in December 2017 compared to 55.9 in November. This indicates an increase in the manufacturing sector during the review period.
The Statistics Department, Central Bank of Nigeria conducts a monthly survey of purchasing and supply executives of manufacturing and non-manufacturing organizations in 13 locations in Nigeria; two states in each of the six geo-political zones, and the FCT. The survey results are used to compute the monthly Purchasing Managers’ Index (PMI).
A composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally declining.
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