The Manufacturing PMI in the month of December stood at 60.8 index points, indicating expansion in the manufacturing sector for the thirty-third consecutive month. The index grew at a faster rate when compared to the index in November. All the 14 surveyed subsectors reported growth in the review month in the following order: petroleum & coal products; transportation equipment; plastics & rubber products; food, beverage & tobacco products; fabricated metal products; furniture & related products; primary metal; chemical & pharmaceutical products; printing & related support activities; textile, apparel, leather & footwear; cement; paper products; electrical equipment; and nonmetallic mineral products.

Production Level

At 61.8 points, the production level index for the manufacturing sector grew for the thirty-fourth consecutive month in December 2019. The index indicated a faster growth in the current month when compared to its level in November 2019. Eleven of the 14 manufacturing subsectors recorded an increased production level, 2 remained unchanged while 1 recorded decline.

New Orders

At 61.5 points, the new orders index grew for the thirty-third consecutive month, indicating an increase in new orders in December 2019. The index grew at a faster rate when compared to its level in November 2019. Twelve subsectors reported growth, 1 remained unchanged while 1 recorded decline in the review month.
Supplier Delivery Time

The manufacturing supplier delivery time index stood at 60.5 points in December 2019, indicating faster supplier delivery time. The index has recorded growth for thirty-one consecutive months. Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while 2 declined in the review period.

Employment Level

The employment level index for December 2019 stood at 58.0 points, indicating growth in employment level for the thirty-second consecutive month. Of the 14 subsectors, 10 reported increased employment level, 3 reported unchanged employment level while 1 reported decreased employment in the review month.

Raw material Inventories

The Manufacturing sector inventories index grew for the thirty-third consecutive month in December 2019. At 62.4 points, the index grew at a faster rate when compared to its level in November 2019. Twelve of the 14 subsectors record ed growth, while 2 reported declined raw material inventories in the review month.

SOURCE:https://brandspurng.com/2019/12/30/nigerias-manufacturing-pmi-grows-to-60-8-in-december-2019-from-59-3-in-november-2019/