Data released on Friday by the Central Bank of Nigeria (CBN) revealed that 12 of the 16 subsectors 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 4 sub-sectors declined in the order: non-metallic mineral products; cement; chemical & pharmaceutical products and printing & related support activities.
The June 2017 PMI was conducted by the Statistics Department of the CBN during the period of June 12 – 16, 2017.
The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in 13 locations in Nigeria (2 states in each geopolitical zone and the Federal Capital Territory).
A total of 1,796 responses were received from a sample of 1,950 respondents, representing a response rate of 92.1 percent.
In the period under review, 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.
Also, 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; non-metallic mineral products; electrical equipment; furniture & related products; printing & related support activities and chemical & pharmaceutical products.
Source: Business Post
Download the Report here: PMI_Report_June 2017