Wednesday, June 23, 2021

    Nigeria’s manufacturing PMI expands at 57.4 index for June

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    The Manufacturing PMI in the month of June stood at 57.4 index points, indicating expansion in the manufacturing sector for
    the twenty-seventh consecutive month
    (Fig. 2 and Table 1). The index grew at a slower rate when compared to the index
    in the previous month. Of the 14 subsectors surveyed, 12 reported growth
    in the review month in the following order:transportation equipment; petroleum & coal products; cement;
    chemical & pharmaceutical products; electrical equipment; food, beverage &
    tobacco products; printing & related

    support activities; fabricated metal
    products; paper products; furniture & related products; textile, apparel, leather & footwear; and plastics & rubber products. The nonmetallic mineral
    products and primary metal subsectors recorded declines in the review period

    2.1 Production Level

    At 59.3 points, the production level index
    for the manufacturing sector grew for the
    twenty-eighth consecutive month in June 2019
    The index indicated a faster growth in the current month, when compared to its level in the month of May 2019. Twelve of the 14 manufacturing subsectors
    recorded increased production level, 1
    remained unchanged while 1 recorded

    2.2 New Orders

    At 55.9 points, the new orders index grew
    for the twenty-seventh consecutive month, indicating increase in new orders in June 2019. Eight subsectors reported
    growth, 1 remained unchanged, while 5
    contracted in the review month 2.3

    Supplier Delivery Time

    The manufacturing supplier delivery time index stood at 58.7 points in June
    2019, indicating faster supplier Delivery time. The index has recorded
    growth for twenty-five consecutive months. Eleven of the 14 subsectors
    recorded improved suppliers’ delivery
    time, while 1 remained unchanged and 2 recorded decline in the review period

    2.4 Employment Level

    The employment level index for June 2019 stood at 57.5 points, indicating
    growth in employment level for the Twenty-sixth consecutive month. Of
    the 14 subsectors, 10 reported increased employment level, 2
    reported unchanged employment level
    while 2 reported decreased
    employment in the review month.

    2.5 Raw material Inventories

    The Manufacturing sector inventories index grew for the twenty-seventh
    consecutive month in June 2019.
    At 55.0 points, the index grew at a slower
    rate when compared to its level in May 2019. Ten of the 14 subsectors
    recorded growth, 2 remain unchanged, While 2 sectors reported declined raw
    material inventories in the review Month.

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