February 1, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Wednesday said the Manufacturing PMI in the month of January stood at 57.3 index points indicating expansion in the manufacturing sector for the tenth consecutive month.
“The index however grew at a slower rate, when compared to that in the previous month,” the CBN said in its latest report.
According to the report, of the 16 subsectors, 13 reported growth in the review month in the following order: computer & electronic products; nonmetallic mineral products; cement; textile, apparel, leather & footwear; printing & related support activities; appliances & components; primary metal; petroleum & coal products; food, beverage & tobacco products; furniture & related products; paper products; fabricated metal products; plastics & rubber products. The electrical equipment; chemical & pharmaceutical products; and transportation equipment subsectors contracted in the review month.
The January 2018 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period January 15 – 19, 2018. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in 20 locations in Nigeria .
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