Nigerian manufacturing Purchasing Managers’ Index, PMI, rose to 45.8 index points in May 2016, compared to 43.7 in the preceding month.
This according to the PMI report for May 2016 posted on the Central Bank of Nigeria’s website, Wednesday, implied that the manufacturing sector declined at a slower rate during the review period.
Of the 16 manufacturing sub-sectors, 11 recorded decline in the review month in the following order: primary metal; paper products; petroleum and coal products; furniture and related products; fabricated metal products; printing and related support activities; nonmetallic mineral products; electrical equipment; textile, apparel, leather and footwear; food, beverage and tobacco products and chemical and pharmaceutical products. The remaining five sub-sectors however recorded expansion in the following order: computer and electronic products; appliances and components; cement; plastics and rubber products and transportation equipment.
Also, at 49.3 index points, the production level index for manufacturing sector declined for the fifth consecutive month, but at a slower rate than that recorded in April 2016. Of the 16 manufacturing sub-sectors, 10 recorded decline in production level during the review month in the following order: primary metal; petroleum and coal products; electrical equipment; printing and related support activities; paper products; fabricated metal products; nonmetallic mineral products; furniture and related products; textile, apparel, leather and footwear and food, beverage and tobacco products.
The transportation equipment sub-sector recorded no change. The remaining five recorded growth in production level during the review month in the following order: cement; plastics and rubber products; appliances and components; chemical and pharmaceutical products and computer and electronic products.
In addition, it showed that the new orders index rose to 43.2 index points in May 2016, but still indicating a decline for the fifth consecutive month. The 12 sub-sectors that recorded declines in new orders were: primary metal; petroleum and coal products; transportation equipment; fabricated metal products; furniture and related products; paper products; printing and related support activities; nonmetallic mineral products; textile, apparel, leather and footwear; chemical and pharmaceutical products; electrical equipment and food, beverage and tobacco products. The appliances and components sub-sector recorded no change


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