The country’s manufacturing activity fell to 48.2 index points in January 2017, down from 52.0 recorded in December, the Central Bank of Nigeria said in its Purchasing Managers’ Index released on Tuesday.

The report showed that while the manufacturing PMI dropped to 48.2 index points, the non-manufacturing PMI stood at 49.4 points, indicating a slower decline compared with the 47.1 points recorded for December 2016.

In the PMI report posted on its website, the CBN said, “A composite PMI above 50 points indicates that the manufacturing/ non-manufacturing economy is generally expanding, 50 points indicate no change and below 50 points indicate that it is generally declining.”

Though the manufacturing PMI grew in December 2016, it had recorded declines for eleven consecutive months and averaged 45.2 in the last 12 months.

The report showed that 10 of the 16 subsectors surveyed recorded decline in the month under review while the remaining six subsectors expanded.

The six sectors are: petroleum and coal products; appliances and components; nonmetallic mineral products; food, beverage and tobacco products; textile, apparel, leather and footwear; and computer and electronic products

Despite the decline in manufacturing activity, however, the report showed that the production level index for the manufacturing sector grew for the second consecutive month, standing at 51.3 points, indicating a slower growth when compared to the 57.6 points in the month of December 2016.

But this did not have any impact on new orders as well as suppliers’ delivery time during the period as they both declined with the latter standing at 48.5 index points while the former stood at 47.9 points.

Also, the report showed that the employment level index for the January manufacturing PMI stood at 45.3 points, indicating a decline in employment level for the 23rd consecutive month.

Similarly, the report showed that the employment level index for the non-manufacturing sector PMI declined for the 13th consecutive month in January 2017.

However, the report stated that at 45.6points, the index declined at a slower rate compared with the 43.8 points recorded in December 2016.

http://investorsking.com/january-manufacturing-pmi-fell-to-48-2-cbn/

Lalasticlala Mynd44 seun Dominique

What the meaning of PMI again? I hope it is a positive one . . .

Everything just dey fall from fell under Buhari

Sibrah:
What the meaning of PMI again? I hope it is a positive one . . .

Can anything positive come out of this government?

Itz Jonathans fault

This useless bloodsucking demon called Mumuhammadull Mumuharî and his band of junior level demons/zombies have destroyed this country!

Things re not rossy in January right 4rm tym

Things are getting worst...


God forgive those APC buffons that voted this spare tyre government in.

Lord Jesus we are tired, and believe me we are...


#istandwith2baba

The way everything is falling in dz country ehh!

Y'all should cool down and read that piece, instead of rushing down here to comment

Please... Kindly explain

D way zombies use to Dodge threads eh

Gidi3020:
Y'all should cool down and read that piece, instead of rushing down here to comment

Still i no understand

Sibrah:
What the meaning of PMI again? I hope it is a positive one . . .

Purchasing managers index, its the aggregate of manufacturing managers' purchases within the period under review.

Whatever Buhari touches, Buhari Spoils it.

Check My Signature. Don't Miss Out!

Nigeria jaga jaga, everything scatter scatter

jaymejate:

Still i no understand

How you wan take understand when nairabet Don chop half of your brain.

If you like quote me till next year, ayam not coming back!

Gidi3020:


How you wan take understand when nairabet Don chop half of your brain.

If you like quote me till next year, ayam not coming back!

This will make my day

HE WARNED US BUT WE WERE TOO STUBBORN TO LISTEN.

Thanks Buhari.
Thanks zombies.
What more can I say?

hucienda:
When will Nigeria pull out of this biting recession?

Not for as long as Buhari is in charge.
Sadly.

Read the second to the last paragraph.
It says employment level index has declined for 13 consecutive months.
Is this how APC is creating 3million jobs per annum ?

And some folks are against Tubaba's planned protest in the face of all this

989900:
January is usually slow.

superstitions belief