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Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest - Business - Nairaland

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Nigeria’s October Manufacturing PMI Expands To 58.2 Points / Nigeria’s Manufacturing Pmi Grows To 57.8% In May 2019 / Inflation Rate Rises From 11.14% To 11.23% In August – NBS (2) (3) (4)

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Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Realdeals(m): 9:34am On Jan 04, 2017
FBNQuest, a unit of FBN Holdings Plc has released its latest headline reading of manufacturing Purchasing Managers’ Index (PMI) for Nigeria as 60.0 in December 2016 from 48.8 in November, a 23 per cent increase.

The PMI which takes the temperature of the sector has developed into a core forward indicator in the economy.

FBNQuest said the only explanation for the surge in the headline reading was the seasonal boost to household demand.
“Since Nigeria is mired in recession, the extent of the seasonal demand boost this year has come as a surprise. ‘‘Once we strip out seasonal effects, the landscape for manufacturing is little changed. Substitution is beginning to have an impact, while the CBN and stated-owned investment vehicles are providing additional credit for the sector. The FGN’s expansionary fiscal stance is also supportive in the form of accelerated capital releases. We suspect, however, that manufacturing will be one of the last sectors to benefit because of the scarcity of forex, which we expect to continue in the year. In conclusion, it may well be that the reading in January erodes the gains of this report,”the report read in part.

In Q3 2016, GDP contracted at constant basic prices by -2.2% y/y, the worst out turn since 2011 in the new national accounts. The figure was dragged down by a sabotage-driven -22.0% y/y contraction in the oil economy.

The non-oil economy was flat y/y, while manufacturing shrank by -4.4% y/y in Q3, compared with -3.4% the previous quarter.


http://leadership.ng/business/566041/nigerias-manufacturing-pmi-index-rises-by-23-in-dec-2016-fbnquest

4 Likes

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by estyvino(m): 9:36am On Jan 04, 2017
In the first instance I thought it goodnews, but it turns out indifferent after reading!

8 Likes

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Atiku2019: 9:51am On Jan 04, 2017
In Q3 2016, GDP contracted at constant basic prices by -2.2% y/y, the worst out turn since 2011 in the new national accounts. The figure was dragged down by a sabotage-driven -22.0% y/y contraction in the oil economy.



Fingers crossed watching how things will unfold this year 2017.

1 Like

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Zi: 9:58am On Jan 04, 2017
Good caption for zombies cheesy

How much is a bottle of red oil in oyinbo? undecided

6 Likes

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by 50shot(m): 9:58am On Jan 04, 2017
so in other words the mean that buhari is incompetent...i must give a phork on these. angry angry

PLS BE VERY CAREFUL

Trump Is 70

Hillary Is 69

Obama Is 55

70+69+55 =194

Buhari 74

Johnathan 59

APC 3 Letters

PDP 3 Letters

Therefore 74+59+3+3=139

........................ This Does Not Mean Anything, I Just Wanted To Waste Your Time
I'm @Home... If You Like Come & Beat Me ........... cool cool

25 Likes

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by jazinogold(m): 10:00am On Jan 04, 2017
grin

How will this affect a bottle of agbo? angry angry
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by 10kgod(m): 10:01am On Jan 04, 2017
Booked....
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by gurunlocker: 10:02am On Jan 04, 2017
Minus everywhere..... zombies will be confused

1 Like

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by clevadani: 10:04am On Jan 04, 2017
I don't think this administration knows what to do with our economy.
it is really sad considering the fact that Buhari contested four times.

1 Like

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by SexyNairalander: 10:05am On Jan 04, 2017
booked
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by savcy(m): 10:05am On Jan 04, 2017
I didn't understand a thing.
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Saintp(m): 10:05am On Jan 04, 2017
Plz we need whatever achievements to translate what the common man on the street can relate to. This shouldn't be a year of paper achievements, I take God beg una

4 Likes

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by tundafayaBuhari: 10:06am On Jan 04, 2017
Buhari is a fool. He has no clues and his followers are even worse because they are following him blindly. Godforsaken country

2 Likes

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by malakus(m): 10:07am On Jan 04, 2017
shocked
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by playtheblues(f): 10:08am On Jan 04, 2017
Lies from the pit of hell fabricated by APC.
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Nobody: 10:14am On Jan 04, 2017
George Orwells' 1984

1 Like

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Stalwert: 10:15am On Jan 04, 2017
tundafayaBuhari:
Buhari is a fool. He has no clues and his followers are even worse because they are following him blindly. Godforsaken country

God has forsaken Nigeria's enemies and bless Nigeria with progress and peace.

3 Likes

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by NOETHNICITY(m): 10:16am On Jan 04, 2017
How come? In Wailers voice!
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by abumeinben(m): 10:17am On Jan 04, 2017
NOETHNICITY:
How come? In Wailers voice!
Try to digest the piece bro... Everything isn't politics.

PMI increased at the expense of GDP, means PPP of the Naira keeps dwindling. (Abi nor be so economics talk am? Stand to be corrected sha)

Local manufacturing is long overdue, but we still need foreign investment. Just imagine that $80b returned to the economy!
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by ichidodo: 10:18am On Jan 04, 2017
Somborri pls help us translate the post in English.... We are not understanding..
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by ItsMeAboki(m): 10:18am On Jan 04, 2017
estyvino:
In the first instance I thought it goodnews, but it turns out indifferent after reading!


On the face of it, yes; however, I am quite optimistic that the manufacturing sector will pick up because the problem of forex will be partly addressed by the new high import tariffs on luxury and locally available goods; while the said policy would simultaneously drive demand for such locally produced goods and therefore increase cashflow and profitability of the sector.
The rise in crude oil price (if sustained) may also abate ongoing forex scarcity, which would beneficial to all sectors - including manufacturing.

1 Like

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by banki(m): 10:22am On Jan 04, 2017
some people just comment....

they don't understand what the report is about......

just let me remind all of us, we may not all like the president or his party but we should constructively criticize an no wail at every opportunity if the economy is bad it affects us all rich or poor....

this PMI indicies are meant for investors and analystis and not for blind critics

1 Like

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Cletus77(m): 10:45am On Jan 04, 2017
Even if Buhari don't know how to make Nigeria great, he should surround himself with intelligent and able people and the credit will be his
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Esseite: 10:53am On Jan 04, 2017
In as much these figures may be tales, its good so as to bring about confidence with investors ..

We never hear ill about the us government or russian govt..

Although it might bite us in the near future
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Nobody: 10:57am On Jan 04, 2017
unclezuma:
George Orwells' 1984

So Nigeria is a farm ?
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Nobody: 11:00am On Jan 04, 2017
lestat:


So Nigeria is a farm ?

1984...Animal Farm is another story depicting Nigeria.

1 Like

Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by tundafayaBuhari: 11:19am On Jan 04, 2017
Stalwert:


God has forsaken Nigeria's enemies and bless Nigeria with progress and peace.
did you type progress? Dollar at the rate of #500, peace in the southern Kaduna, Borno state or Niger delta? my man Nig is going back
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by Rebuke: 11:27am On Jan 04, 2017
I wish I understood. I hope to wake up one day to read FG is already making a move to hurt the killing increase in food stuffs and other basic commodities that keep average Nigerian moving.
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by bigerboy200: 11:37am On Jan 04, 2017
sweet
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by intruder15(m): 12:13pm On Jan 04, 2017
50shot:
so in other words the mean that buhari is incompetent...i must give a phork on these. angry angry

PLS BE VERY CAREFUL

Trump Is 70

Hillary Is 69

Obama Is 55

70+69+55 =194

Buhari 74

Johnathan 59

APC 3 Letters

PDP 3 Letters

Therefore 74+59+3+3=139

........................ This Does Not Mean Anything, I Just Wanted To Waste Your Time
I'm @Home... If You Like Come & Beat Me ........... cool cool

LMAO
Re: Nigeria’s Manufacturing PMI Index Rises By 23% In Dec 2016 – Fbnquest by greatman247(m): 3:41pm On Jan 04, 2017
50shot:
so in other words the mean that buhari is incompetent...i must give a phork on these. angry angry

PLS BE VERY CAREFUL

Trump Is 70

Hillary Is 69

Obama Is 55

70+69+55 =194

Buhari 74

Johnathan 59

APC 3 Letters

PDP 3 Letters

Therefore 74+59+3+3=139

........................ This Does Not Mean Anything, I Just Wanted To Waste Your Time
I'm @Home... If You Like Come & Beat Me ........... cool cool


grin grin grin grin

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