• Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Facebook X (Twitter) Instagram
Tuesday, July 8
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram
Oriental News Nigeria
  • Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Oriental News Nigeria
Home»Banking & Finance»Capital Market»Nigeria’s manufacturing Purchasing Managers’ Index drops to 56.2 in February
Capital Market

Nigeria’s manufacturing Purchasing Managers’ Index drops to 56.2 in February

By orientalnewsngMarch 2, 2015No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Yemisi Izuora/Joseph Bakare

FBN-Logo

FBN Capital, the invesment banking unit of FBN Holdings has put its manufacturing Purchasing Managers’ Index (PMI) for Nigeria at 56.2 in February 2015, a marginal drop from 56.4 posted in January.

The February figure is the smallest m/m change since its launch in April 2013.

According to FBN Capital, the delivery times sub-index showed a sharp decline, but all others were higher than the previous month.

It said, “We are not surprised by the normally large movements in the monthly readings because of the challenging operating backdrop.

“Our research concludes that Nigeria could boost its GDP growth by about two percentage points if the electricity industry was able to meet consumption demand. The federal finance minister has estimated the negative impact of the insecurity in the north east at half a percentage point annually.”

To calculate PMI, a selection of companies is asked their view each month on core variables in their business. The respondent, who is characteristically the purchasing manager in a larger firm, has three choices of reply: better, unchanged or worse than the previous month. According to the most used methodology, 50 marks a neutral reading and anything higher suggests that the manufacturing economy is expanding. Readings are released at the start of the new month.

The five variables are output, employment, new orders, delivery times from suppliers and stocks of purchases. They have equal weightings in our index, and respondents are asked to make allowances for seasonal factors. The reports cover a representative sample of the sector with large, medium-sized and small firms. Any broad conclusions about the economy generally on the basis of our reports need to be tentative because we are operating in a near void: there are few sources on sectoral trends.

Share this:

  • Share
  • Click to email a link to a friend (Opens in new window) Email
  • Tweet
  • Click to share on Reddit (Opens in new window) Reddit
featured Nigeria's manufacturing Purchasing Managers' Index drops to 56.2 in February
orientalnewsng

Related Posts

Nigeria Judiciary Called To Promote Confidence In Nigeria’s Capital Market

July 8, 2025

Jaiz Bank To Pay Shareholders 7kobo Dividend 

July 7, 2025

SEC DG Seeks Inclusive Capital Market At United Capital Investment Forum

July 5, 2025

Leave A Reply Cancel Reply

2025 OrientalNews Conference

0
Years
:
0
Months
:
0
Days
:
0
Hrs
:
0
Mins
:
0
Secs
The latest
  • Ecobank Drives Sustainable Education Ecosystem With Customer Value Proposition 
  • Nigeria Judiciary Called To Promote Confidence In Nigeria’s Capital Market
  • NCS, Others Engages International Airlines On Currency Declaration
  • Oby Ezekwesili Confirmed Keynote Speaker At 7th Penpushing Media Anniversary Lecture 
  • CBN Clarifies NRBVN Charges For Nigerians In Diaspora 
  • MultiChoice Nigeria To Pay $501, 340 Fine For Data Breach
  • NCC’s Digital Awareness Programme Wins 2025 Prize 
  • Nigeria’s power sector: The way forward
  • ViviaJets Says Private Aviation Key To Advancing Africa’s Oil And Gas Industry
  • Sahara Group Drives Dialogue On Gas As Catalyst For Africa’s Sustainable Future
Categories
Quick Links
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Copyright © 2025 Oriental News Nigeria. All right reserved.

Type above and press Enter to search. Press Esc to cancel.