The Manufacturing purchasing managers’ index PMI, stood at 52.9 index points in June 2017, indicating expansion in the manufacturing sector for the third consecutive monthCBN has said.
According to Central Bank of Nigeria purchasing manager survey report “Twelve of the 16 sub- sectors reported growth in the review month in the following order: computer & electronic products; paper products; plastics & rubber products; primary metal; transportation equipment; petroleum & coal products; appliances & components; textile, apparel, leather & footwear; furniture & related products; electrical equipment; food, beverage & tobacco products and fabricated metal products.
“The remaining four sub-sectors declined in this order, nonmetallic mineral products; cement; chemical & pharmaceutical products and printing & related support activities. The production level index for manufacturing sector grew for the fourth consecutive month in June 2017. The index at 58.2 points indicated an increase in production but at a slower rate, when compared to the level attained in the previous month.
Fourteen manufacturing sub-sectors recorded increase in production level during the review month in the following order: computer & electronic products; plastics & rubber products; transportation equipment; primary metal; appliances & components; paper products; textile, apparel, leather & footwear; electrical equipment; petroleum & coal products; fabricated metal products; furniture & related products; food, beverage & tobacco products; cement and printing & related support activities. The nonmetallic mineral products and chemical & pharmaceutical products sub-sectors recorded decline At 51.0 points, new orders index grew for the third consecutive month.
It said “eight sub-sectors reported growth in new orders in the following order: paper products; primary metal; plastics & rubber products; computer & electronic products; petroleum & coal products; furniture & related products; textile, apparel, leather & footwear and food, beverage & tobacco products. The fabricated metal products and transportation equipment sub-sectors remained unchanged, while the nonmetallic mineral products; cement; chemical & pharmaceutical products; appliances & components; printing & related support activities and electrical equipment sub-sectors recorded declines.
“The supplier delivery time index for the manufacturing sector at 50.3 points in June 2017, rose from its contractionary level in the previous month. Seven sub-sectors recorded improvement in suppliers’ delivery time in the following order: computer & electronic products; electrical equipment; furniture & related products; cement; primary metal; food, beverage & tobacco. Employment level index in June 2017 stood at 51.1 points, indicating growth in employment level for the second consecutive month. Of the 16 sub-sectors, 10 recorded growth in employment in the following order: computer & electronic products; plastics & rubber products; transportation equipment; appliances & components; paper products; petroleum & coal products; primary metal; fabricated metal products; textile, apparel, leather & footwear and food, beverage & tobacco products. The remaining 6 sub sectors recorded contraction in employment in the following order: cement; nonmetallic mineral products; electrical equipment; furniture & related products; printing & related support activities and chemical & pharmaceutical products (Table 5). products and chemical & pharmaceutical products.
“The nonmetallic mineral products; textile, apparel, leather & footwear and transportation equipment remained the same, while the remaining 6 sub-sectors recorded delayed supplier delivery time in the following order: plastics & rubber products; appliances & components; petroleum & coal
metal related paper. At 52.3 points, the raw materials inventory index grew for the third consecutive month, and at a faster rate compared to its level in May 2017. Twelve of the 16 sub sectors recorded growth in raw materials inventories in the order: appliances & components; petroleum & coal products; plastics & rubber products; computer & electronic products; transportation equipment; primary metal; paper.”
It said that “The business activity index rose to 57.0 points in June 2017 for the third consecutive month. The index grew at a faster rate, when compared to its level in the previous month. Thirteen sub-sectors recorded growth in the following order: utilities; finance & insurance; information & communication; repair, maintenance/washing of motor vehicles…; health care & social assistance; electricity, gas, steam & air conditioning supply; water supply, sewage & waste management; agriculture; educational services; real estate, rental & leasing; wholesale trade; accommodation & food services and transportation & warehousing. The arts, entertainment & recreation and public administration sub-sectors remained unchanged, while the remaining 3 sub-sectors recorded growth in the order: management of companies; construction; professional, scientific, & technical services
“New orders index at 54.6 points grew in June 2017 for the third consecutive month. Of the 18 sub- sectors, 15 subsectors reported growth in new orders in the following order: utilities; water supply, sewage & waste management; finance & insurance; repair, maintenance/washing of motor vehicles…; information & communication; real estate, rental & leasing; management of companies; electricity, gas, steam & air conditioning supply; educational services; wholesale trade; health care & social assistance; professional, scientific, & technical services; accommodation & food services; arts, entertainment & recreation and transportation & warehousing.
“The remaining 3 sub- sectors recorded decline in the order: public administration; construction; agriculture. The employment level Index for the non-manufacturing sector stood at 53.4 points, indicating growth in employment for the second consecutive month. Sixteen sub-sectors recorded growth in employment level in the following order: utilities; finance & insurance; water supply, sewage & waste management; professional, scientific, & technical services; transportation & warehousing; arts, entertainment & recreation; construction; repair, maintenance/ washing of motor vehicles…; health care & social assistance; electricity, gas, steam & air conditioning supply; public administration; educational services; real estate, rental & leasing; wholesale trade; agriculture and information & communication. The accommodation & food services and management of companies recorded decline in employment in June 2017.
“At 51.8 points, non-manufacturing inventory index grew for the second consecutive month indicating growth in inventories in the review period. Eight sub-sectors recorded higher inventories in June in the following order: water supply, sewage & waste management; agriculture; educational services; finance & insurance; health care & social assistance; utilities; professional, scientific, & technical services and wholesale trade. The accommodation & food services; construction; transportation & warehousing and public administration subsectors remain unchanged, while the management of companies; electricity, gas, steam & air conditioning supply; repair, maintenance/ washing of motor vehicles…; arts, entertainment & recreation; real estate, rental & leasing and information & communication subsectors recorded lower inventory.”
