By Andy Nssien
The Manufacturing Purchasing Managers’ Index (PMI) in August stood at 57.1 points, indicating expansion in the manufacturing sector for the seventeenth consecutive month. For the non-manufacturing sector, the PMI recorded 58.0 points during the month, reflecting expansion for the sixteenth consecutive month.
The August 2018 PMI survey conducted by the Central Bank of Nigeria (CBN) during the period had the purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT) as respondents.
According to the report, the Manufacturing PMI grew at a faster rate when compared to the index in the previous month.
Of the 14 subsectors surveyed, 13 reported growth in the review month in the following order: electrical equipment; nonmetallic mineral products; cement; furniture & related products; plastics & rubber products; textile, apparel, leather & footwear.
Others were, petroleum & coal products; chemical & pharmaceutical products; paper products; fabricated metal products; printing & related support activities; food, beverage & tobacco products and primary metal. The transportation equipment subsector declined in the review month.
For the composite PMI in non-manufacturing sector which stood at 58.0 points in August 2018, the index grew at a faster rate when compared to that in July 2018. Fourteen of the 17 subsectors recorded growth in the following order: agriculture; repair, maintenance/washing of motor vehicles; information & communication; water supply, sewage & waste management; educational services.
Others were, wholesale/retail trade; finance & insurance; arts, entertainment & recreation; real estate rental & leasing; health care & social assistance; transportation & warehousing; management of companies; accommodation & food services; electricity, gas, steam & air conditioning supply. The public administration subsector remained unchanged, while utilities; professional, scientific & technical services and construction subsectors recorded contractions in the review period.