Nigeria Composite Purchasing Managers' Index (PMI)
Price
The current value of the Composite Purchasing Managers' Index (PMI) in Nigeria is 54.1 Points. The Composite Purchasing Managers' Index (PMI) in Nigeria increased to 54.1 Points on 5/1/2026, after it was 52.4 Points on 4/1/2026. From 9/1/2014 to 5/1/2026, the average GDP in Nigeria was 52.82 Points. The all-time high was reached on 5/1/2018 with 59.1 Points, while the lowest value was recorded on 4/1/2020 with 37.1 Points.
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Composite Purchasing Managers' Index (PMI)
Composite Purchasing Managers' Index (PMI)
3 Years
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Composite Purchasing Managers' Index (PMI) History
| Date | Value |
|---|---|
| 54.1 Points | |
| 52.4 Points | |
| 51.9 Points | |
| 53.2 Points | |
| 49.7 Points | |
| 53.5 Points | |
| 53.6 Points | |
| 54 Points | |
| 53.4 Points | |
| 54.2 Points |
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Industrial production
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Manufacturing Production
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Mining Production
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Services PMI
Monthly
Composite Purchasing Managers' Index (PMI)
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) measures the performance of the private sector, drawing data from a survey of 400 companies across the agriculture, manufacturing, services, construction, and retail sectors. The PMI is a composite index derived from five individual indexes with the following weights: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stock of Items Purchased (10%). Notably, the Delivery Times index is inverted to ensure it moves in a comparable direction with the other indexes. A reading above 50 signals an expansion in private sector activity compared to the previous month; a reading below 50 indicates a contraction, while a reading of 50 signifies no change.
Macro pages for other countries in Africa
What is Composite Purchasing Managers' Index (PMI)?
At Eulerpool, we pride ourselves on delivering comprehensive and precise macroeconomic data to professionals, analysts, and enthusiasts. One of the essential metrics we feature prominently on our platform is the Composite PMI, a multifaceted indicator offering valuable insights into the health and direction of the global economy. The Composite Purchasing Managers' Index (Composite PMI) is a crucial economic indicator derived from monthly surveys of senior executives at private sector companies. The Composite PMI is an aggregate measure that combines data from the manufacturing and services sectors, which are pivotal components of any economy. It reflects the prevailing trends in business conditions by capturing variables such as new orders, production, employment, supplier deliveries, inventories, and backlogs of work. As such, it serves as an all-encompassing snapshot of the economy's performance and provides foresight into economic activities that could influence market conditions and policy decisions. Understanding the fundamentals of the Composite PMI begins with a deeper dive into its structure. It generally consists of five sub-indices: new orders, output, employment, suppliers' delivery times, and stocks of purchases. The PMI surveys solicit responses on whether business conditions have improved, deteriorated, or remained unchanged compared to the previous month. Each response is then assigned a numerical value and aggregated into a headline index where a figure above 50 indicates expansion, and a figure below 50 signifies contraction. This simple yet robust scoring system makes the Composite PMI an indispensable tool for gauging economic momentum. For investors and analysts, the Composite PMI is akin to a barometer, meticulously measuring the market's pulse. Its comprehensive data can forewarn of turning points in the economy. For instance, an increasing Composite PMI suggests robust business activity, revealing economic resilience and potentially auguring well for investments in equities and riskier assets. Conversely, a decreasing Composite PMI may signal economic slowdown, urging caution among investors and suggesting a potential shift towards more defensive assets such as bonds or gold. Policymakers also closely scrutinize the Composite PMI. Central banks, in particular, use PMI data to inform their monetary policy decisions. For instance, an expanding Composite PMI might prompt a central bank to consider tightening monetary policy to forestall inflationary pressures. On the other hand, a contracting PMI could lead to the implementation of more accommodative policies to rejuvenate economic growth. Thus, PMI data can have a profound impact on interest rates, liquidity conditions, and ultimately, the broader financial environment. Moreover, the Composite PMI serves as an informative comparative tool across different economies. By analyzing the PMI data from various countries, analysts can identify relative economic strengths and weaknesses and infer trends in global economic integration and regional disparities. For multinational corporations and investors with global exposure, such comparative analyses are indispensable for strategic decision-making and resource allocation. The timeliness of the Composite PMI also merits attention. Released monthly, often days after the reporting month ends, it provides one of the earliest signals of economic performance. This promptness makes the PMI data less susceptible to major revisions, unlike many other economic indicators released on a less frequent basis. The real-time nature of PMI ensures that its observations and insights are immediately actionable, offering a significant edge in proactive economic analysis and forecasting. At Eulerpool, our commitment to showcasing high-quality macroeconomic data is exemplified through our meticulous presentation of the Composite PMI. We offer detailed visualizations, trend analyses, and historical comparisons, thus enabling our users to make well-informed decisions based on accurate and comprehensive economic data. Our platform is designed to translate the wealth of information encapsulated in the Composite PMI into understandable and actionable insights, fostering better investment strategies, policy assessments, and economic forecasts. Additionally, we recognize the importance of context in macroeconomic analysis. Therefore, the Composite PMI on Eulerpool is accompanied by in-depth reports that elucidate the underlying factors influencing the index, such as changes in business sentiment, supply chain dynamics, and global economic events. We also integrate PMI data with other key economic indicators, enhancing our users’ ability to appraise the broader economic landscape and discern intricate interdependencies. For educational purposes, Eulerpool also provides detailed guides and explanatory content that elucidate the methodology behind the Composite PMI. We break down complex concepts related to survey design, data collection, and index computation, enabling users to develop a nuanced understanding of how the PMI is constructed and what it signifies. By demystifying the Composite PMI, we empower our users with the knowledge necessary to leverage this crucial economic indicator effectively. Furthermore, the Composite PMI's predictive power extends beyond economic performance to encompass financial markets. Historical analyses indicate a strong correlation between PMI trends and stock market performance. Thus, for traders and market participants, monitoring the Composite PMI can improve market timing and enhance trading strategies. By predicting cyclical turning points, the PMI enables better anticipation of market rallies and downturns, making it invaluable for both short-term trading and long-term investment planning. In conclusion, the Composite PMI stands as a cornerstone of macroeconomic analysis, offering a real-time, comprehensive, and forward-looking assessment of business conditions. Its widespread influence spans financial markets, investment strategies, policymaking, and comparative economic evaluations. At Eulerpool, our unwavering dedication to delivering accurate and actionable macroeconomic data ensures that the Composite PMI is presented with the clarity, depth, and context it deserves. By leveraging the insights provided by the Composite PMI, our users are better equipped to navigate the complexities of the economic landscape and make informed, strategic decisions.
Composite Purchasing Managers' Index (PMI) Nigeria — FAQ
What is the current Composite Purchasing Managers' Index (PMI) in Nigeria?
The current Composite Purchasing Managers' Index (PMI) in Nigeria is 54.1 Points as of 5/1/2026.
How has the Composite Purchasing Managers' Index (PMI) in Nigeria changed recently?
The Composite Purchasing Managers' Index (PMI) in Nigeria increased from 52.4 Points (4/1/2026) to 54.1 Points (5/1/2026).
What is the all-time high for Composite Purchasing Managers' Index (PMI) in Nigeria?
The all-time high for Composite Purchasing Managers' Index (PMI) in Nigeria was 59.1 Points, recorded on 5/1/2018.
What is the all-time low for Composite Purchasing Managers' Index (PMI) in Nigeria?
The all-time low for Composite Purchasing Managers' Index (PMI) in Nigeria was 37.1 Points, recorded on 4/1/2020.
What is the historical average of Composite Purchasing Managers' Index (PMI) in Nigeria?
The historical average of Composite Purchasing Managers' Index (PMI) in Nigeria is 52.82 Points, calculated over the period from 9/1/2014 to 5/1/2026.
Where does the Composite Purchasing Managers' Index (PMI) data for Nigeria come from?
The Composite Purchasing Managers' Index (PMI) data for Nigeria is sourced from S&P Global and published on Eulerpool.