Nigeria Stanbic IBTC Bank Nigeria PMI
This index, produced by the Stanbic IBTC Bank Nigeria Purchasing Managers Index, monitors the performance of the private sector and is based on a survey of 400 enterprises from various industries including agriculture, manufacturing, services, construction, and retail. All five indicators were evaluated based on the characteristics: New Orders (30%), Production (25%), Workforce (20%), Provider Delivery Times (15%), and Inventory of Items Purchased (10%), with the Delivery Times index reversed so that it moves in a similar direction. A rating of more than 50 shows an increase in private sector activity when compared to the previous month, a value less than 50 suggests a decrease, and a reading of 50 indicates no change.
A higher than expected figure should be seen as positive (bullish) for the NGN while a lower than expected figure should be seen as negative (bearish) for the NGN.
