The Manufacturing PMI in the month of May stood at 57.8 index points, indicating expansion in the manufacturing sector for the twenty-sixth consecutive month. The index grew at a faster rate when compared to the index in the previous month.

Thirteen of the 14 subsectors surveyed reported growth in the review month in the following order: transportation equipment; electrical equipment; petroleum & coal products; paper products; cement; food, beverage & tobacco products; plastics & rubber products; chemical & pharmaceutical products; fabricated metal products; furniture & related products; nonmetallic mineral products; textile, apparel, leather & footwear and printing & related support activities. The primary metal subsector recorded decline in the review period.

The May 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period May 6-10, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). The Bank makes no representation regarding the individual companies, other than the information they have provided. The data contained herein further provides input for policy decisions

At 59.1 points, the production level index for the manufacturing sector grew for the twenty-seventh consecutive month in May 2019. The index indicated a faster growth in the current month when compared to its level in the month of April 2019. Eleven of the 14 manufacturing subsectors recorded an increased production level, while 3 recorded decline.

At 56.9 points, the new orders index grew for the twenty-sixth consecutive month, indicating an increase in new orders in May 2019. Eight subsectors reported growth, 1 remained unchanged, while 5 contracted in the review month.

The manufacturing supplier delivery time index stood at 58.4 points in May 2019, indicating faster supplier delivery time. The index has recorded growth for twenty-four consecutive months. Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while 1 remained unchanged and 1 recorded decline in the review period.

The Manufacturing and Non-Manufacturing PMI Report on businesses is based on survey responses, indicating the changes in the level of business activities in the current month compared with the preceding month. For each of the indicators measured, this report shows the diffusion index of the responses. The diffusion index is computed as the percentage of responses with positive change plus half of the percentage of those reporting no change, except for supplier delivery time, which is computed as the percentage of responses with negative change plus half of the percentage of those reporting no change. The composite PMI for the manufacturing sector is computed as the weighted average of five diffusion indices, namely: production level, level of new orders, suppliers’ delivery time, employment level and raw materials inventory/work in progress, with assigned weights of 25%, 30%, 15%, 10% and 20%, respectively. The composite PMI for the non-manufacturing sector is computed from four diffusion indices, namely: business activity, level of new orders, employment level and raw materials inventory, with equal weights of 25% each.

A composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally contracting. The subsectors reporting growth are listed in the order of highest to lowest growth, while those reporting contractions are listed in the order of the highest to the lowest contraction.

SOURCE: https://brandspurng.com/2019/05/22/nigerias-manufacturing-pmi-grows-to-57-8-in-may-2019/

Abeg who go borrow me 30k make I pay am 50k back tomorrow?

I go provide any information you need about me....



Abeg help a brother...

Hi

Please ooo can somebody remind me what we are manufacturing again??.....i nor fit remember...infact i no even get memory of am sef

[img]http:///media/12-24-2016/E1c7QP.gif[/img]

GOOD NEWS!!!

Gradually........

Buhari's policy to ban the importation of certain items will eventually be the game changer that will add the right growths in our economy. The next thing the government should do is to aggressively enforce the executive order number five which prohibits the government agencies from patronizing foreign goods and services that are provided locally.

Great!

That's some good news.

contigiency:
Buhari's policy to ban the importation of certain items will eventually be the game changer that will add the right growths in our economy. The next thing the government should do is to aggressively enforce the executive order number five which prohibits the government agencies from patronizing foreign goods and services that are provided locally.

Is this the first time the Nigerian government is banning products?
Buhari ko, buhari ni.

Kill corruption at the borders. That would be the new thing.
There is nothing new that buhari has done.

We'll get there

j

Excellent work by APC government

Offpoint:
Abeg who go borrow me 30k make I pay am 50k back tomorrow?

I go provide any information you need about me....



Abeg help a brother...

what kind of business do you want to do. Can provide it then we share the profit

Yea like the rice in Kano.

kk

RTSC:

Is this the first time the Nigerian government is banning products?
Buhari ko, buhari ni.

Kill corruption at the borders. That would be the new thing.
There is nothing new that buhari has done.

Ok I agree.

What new thing have you done?

Blacks hardly pay back loans lol

Offpoint:
Abeg who go borrow me 30k make I pay am 50k back tomorrow?

I go provide any information you need about me....



Abeg help a brother...

Regime of lies. Banks are no longer taking risk to fund even businesses that have been operating to scale. Exactly how is our PMI growing? The next 4years will be brutal. Take it or leave it. Some are already biting their nails in agony. See how fast the yahooyahol boys cartel is growing. You think 90% of those guys are not graduates? Where are the industries to engage them?








Again, if you have an amazing business idea and you need an investor to pitch to for funding, do not waste your energy finding them on google. I have a database of over 5000 Angel Investors and Institutional investors. Make me a simple offer and its yours. See my signature for details.

Studyinchina200:
Blacks hardly pay back loans lol

Bro, I'm dead serious... if you have help me I can prove you wrong... might even pay back before tomorrow.

zeromeridian:
what kind of business do you want to do. Can provide it then we share the profit

Sharing profit will be difficult, if I should get the 30k from you, I'm paying you 50k back tomorrow as promised... might not even be up-to to tomorrow if I should clear up what I want to clear up.


I can provide any information you need about me

Ravon:
The Manufacturing PMI in the month of May stood at 57.8 index points, indicating expansion in the manufacturing sector for the twenty-sixth consecutive month. The index grew at a faster rate when compared to the index in the previous month.

Thirteen of the 14 subsectors surveyed reported growth in the review month in the following order: transportation equipment; electrical equipment; petroleum & coal products; paper products; cement; food, beverage & tobacco products; plastics & rubber products; chemical & pharmaceutical products; fabricated metal products; furniture & related products; nonmetallic mineral products; textile, apparel, leather & footwear and printing & related support activities. The primary metal subsector recorded decline in the review period.

The May 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period May 6-10, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). The Bank makes no representation regarding the individual companies, other than the information they have provided. The data contained herein further provides input for policy decisions

At 59.1 points, the production level index for the manufacturing sector grew for the twenty-seventh consecutive month in May 2019. The index indicated a faster growth in the current month when compared to its level in the month of April 2019. Eleven of the 14 manufacturing subsectors recorded an increased production level, while 3 recorded decline.

At 56.9 points, the new orders index grew for the twenty-sixth consecutive month, indicating an increase in new orders in May 2019. Eight subsectors reported growth, 1 remained unchanged, while 5 contracted in the review month.

The manufacturing supplier delivery time index stood at 58.4 points in May 2019, indicating faster supplier delivery time. The index has recorded growth for twenty-four consecutive months. Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while 1 remained unchanged and 1 recorded decline in the review period.

The Manufacturing and Non-Manufacturing PMI Report on businesses is based on survey responses, indicating the changes in the level of business activities in the current month compared with the preceding month. For each of the indicators measured, this report shows the diffusion index of the responses. The diffusion index is computed as the percentage of responses with positive change plus half of the percentage of those reporting no change, except for supplier delivery time, which is computed as the percentage of responses with negative change plus half of the percentage of those reporting no change. The composite PMI for the manufacturing sector is computed as the weighted average of five diffusion indices, namely: production level, level of new orders, suppliers’ delivery time, employment level and raw materials inventory/work in progress, with assigned weights of 25%, 30%, 15%, 10% and 20%, respectively. The composite PMI for the non-manufacturing sector is computed from four diffusion indices, namely: business activity, level of new orders, employment level and raw materials inventory, with equal weights of 25% each.

A composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally contracting. The subsectors reporting growth are listed in the order of highest to lowest growth, while those reporting contractions are listed in the order of the highest to the lowest contraction.

SOURCE: https://brandspurng.com/2019/05/22/nigerias-manufacturing-pmi-grows-to-57-8-in-may-2019/

Hmmmn

This is kind of good news I love to read about Nigeria

Next Level development everywhere. Enemies of progress will know no peace

contigiency:
Buhari's policy to ban the importation of certain items will eventually be the game changer that will add the right growths in our economy. The next thing the government should do is to aggressively enforce the executive order number five which prohibits the government agencies from patronizing foreign goods and services that are provided locally.

Gbamest, if the US can engage in protectionism, why can we?

You want to determine manufacturing PMI and you take SURVEY rather than using the industry manufacturing data? Hahahaha.

When you have exhausted your propaganda, the data at the Statistics Office and the Nigerian Manufacturer's Association is waiting for you.

...and there is ban on use of cellophane bags in the country. The local factories will close down and no immediate alternative. More jobs to be lost

fordunit:








Again, if you have an amazing business idea and you need an investor to pitch to for funding, do not waste your energy finding them on google. I have a database of over 5000 Angel Investors and Institutional investors. Make me a simple offer and its yours. See my signature for details.

Yahoo Yahoo investors.