The Manufacturing Purchasing Managers’ Index (PMI), in September 2020 stood at 46.9 index points, indicating contraction in the manufacturing sector for the fifth time.
The September 2020 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period September 7-11, 2020.
Read the CBN PMI survey below:
The survey indicated that out of the 14 subsectors surveyed, 4 subsectors reported expansion (above 50% threshold) in the review month in the following order: electrical equipment; transportation equipment; cement and nonmetallic mineral products.
The remaining subsectors reported contractions in the following order:
- petroleum & coal products; primary metal; furniture & related products; printing & related support activities; food, beverage & tobacco products; textile, apparel, leather & footwear; chemical & pharmaceutical products; fabricated metal products and plastics & rubber products; while the paper product subsector was stable.
The report also indicates that;
- at 47.3 points, the production level index for the manufacturing sector indicated contraction in September 2020 for the fifth consecutive month.
- Of the 14 subsectors surveyed, 5 subsectors recorded increased production level, 1 subsector reported the same level of production,
- while 8 subsectors recorded declines in production in September 2020.
The manufacturing supplier delivery time index stood at 53.5 points in September 2020, indicating faster supplier delivery time for the fifth time.
Six of the 14 subsectors recorded improved suppliers’ delivery time, 5 subsectors reported the same level, while 3 subsectors recorded slower delivery time.
At 43.7 points, the business activity index declined for the fifth consecutive month, indicating contraction in non-manufacturing business activity in September 2020.
Three out of the 17 subsectors reported growth in business activities (above 50% threshold) in the review month; while the remaining 14 subsectors recorded a decline in business activity in the review month.