The Manufacturing Purchasing Managers’ Index (PMI) stood at 48.2 index points in January 2017, indicating a decline in the manufacturing sector during the review period.
The index averaged 45.2 in the last twelve months, and had grown in December 2016 after recording declines for 11 consecutive months.
The PMI is an indicator of the economic health of the manufacturing sector.
The January 2017 PMI report released by the Central Bank of Nigeria (CBN) tuesday, showed that 10 of the 16 sub-sectors surveyed recorded decline in the review month in the following order: primary metal; transportation equipment; paper products; electrical equipment; fabricated metal products; printing & related support activities; cement; furniture & related products; plastics & rubber products; and chemical & pharmaceutical products.





