BREAKING NEWS, Business
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The Manufacturing Purchasing Managers’ Index in Nigeria records marginal improvement in March
THE Manufacturing Purchasing Managers’ Index, PMI, improved marginally to 45.9 percent in March 2016, compared to 45.5 percent in the preceding month. The PMI report for March 2016 revealed that of the 16 manufacturing sub-sectors, 12 reported decline in the review month in the following order: transportation equipment; furniture and related products; plastics and rubber products; textile, apparel, leather and footwear; printing and related support activities; non-metallic mineral products; paper products; fabricated metal products; primary metal; computer and electronic products; applies and components and electrical equipment.
The remaining four sub-sectors, however, reported expansion in the following order: petroleum and coal products; food, beverage and tobacco products; cement and chemical and pharmaceutical products. The report further revealed that at 46.6 percent, the production level index for manufacturing sector also declined for the third consecutive month, but at a slower rate than the preceding month. It showed that of the 16 manufacturing sub-sectors, twelve reported decline in production during the review month.
Also, the New Orders Index remained the same at 43 percent in March 2016.
However, the index has been on the decline for the third consecutive month as 13 sub-sectors reported decrease in new orders. They included: transportation equipment; textile, apparel, leather and footwear; furniture and related products; printing and related support activities; computer and electronic products; plastics and rubber products; primary metal; non-metallic mineral products; paper products; fabricated metal products; appliances and components; cement and electrical equipment.
But the remaining three sub-sectors reported growth in new orders as follows: petroleum and coal products; chemical and pharmaceutical products and food, beverage and tobacco products. “At 50.6 percent, the supplier delivery time index for manufacturing sub-sectors improved for the second consecutive month, after 12 months of worsening delivery time. Eight sub-sectors reported faster suppliers’ delivery time in the following order: plastics and rubber products; textile, apparel, leather and footwear; appliances and components; primary metal; cement; petroleum and coal products; furniture and related products and electrical equipment. The transportation equipment sub-sector reported no change.
— Apr 18, 2016 @ 01:00 GMT
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