Manufacturing PMI Drops to 43.7% in April 2016 - CBN

Proshare

Tuesday, May 03, 2016 2:42PM /CBN

Manufacturing PMI Report
The Manufacturing PMI dropped to 43.7 per cent in April 2016, compared to 45.9 per cent in the preceding month (Fig. 2 and Table 1). This implies that the manufacturing sector declined at a faster rate during the review period.

Of the sixteen manufacturing sub-sectors, twelve recorded decline in the review month in the following order: furniture & related products; paper products; primary metal; electrical equipment; computer & electronic products; printing & related support activities; fabricated metal products; plastics & rubber products; textile, apparel, leather & footwear; petroleum & coal products; chemical & pharmaceutical products and food, beverage & tobacco products.

The remaining four sub-sectors however recorded expansion in the following order: appliances & components; cement; nonmetallic mineral products and transportation equipment.




Production Level
At 42.7 per cent, the production level index for manufacturing sector declined for the fourth consecutive month, but at a faster rate than that recorded in March 2016.

Of the sixteen manufacturing sub-sectors, ten recorded decline in production level during the review month in the following order: primary metal; furniture & related products; electrical equipment; paper products; plastics & rubber products; printing & related support activities; fabricated metal products; textile, apparel, leather & footwear; petroleum & coal products and chemical & pharmaceutical products. The computer & electronic products and food, beverage & tobacco products sub-sectors recorded no change.

The remaining four recorded growth in production level during the review month in the following order: transportation equipment; appliances & components; nonmetallic mineral products and cement (Table 2).


 

 
New order

The new orders index dropped to 41.8 per cent in April 2016, indicating a decline. The index has been on the decline for four consecutive months.

The eleven sub-sectors that recorded declines in new orders were: paper products; primary metal; furniture & related products; computer & electronic products; textile, apparel, leather & footwear; plastics & rubber products; printing & related support activities; fabricated metal products; cement; chemical & pharmaceutical products and food, beverage & tobacco products.

The electrical equipment and petroleum & coal products sub-sectors recorded no change. The remaining three sub-sectors recorded growth in new orders as follows: appliances & components; transportation equipment and nonmetallic mineral products (Table 3).



Supplier Delivery Time

 

At 52.2 per cent, the supplier delivery time index for manufacturing sub-sectors improved for the month of April 2016.

The index recorded improved supplier delivery time for three consecutive months. Eight sub-sectors recorded faster suppliers’ delivery time in the following order: plastics & rubber products; primary metal; paper products; cement; furniture & related products; food, beverage & tobacco products; chemical & pharmaceutical products and fabricated metal products.

The computer & electronic products, and appliances & components sub-sectors remained unchanged. The remaining six sub-sectors recorded worsening delivery time in April in the following order: transportation equipment; petroleum & coal products; electrical equipment; nonmetallic mineral products; printing & related support activities and textile, apparel, leather & footwear (Table 4).

 
Click Here to Download Full Report

Related NEWS

1.       March 2016 PMI: Manufacturing PMI Improves Marginally to 45.9% - CBN

2.      CBN’s Nigeria PMI – Third Consecutive Month of Decline

3.      PMI reading no 36: a welcome recovery

4.      PMI February 2016; Higher stocks, higher output

5.      PMI reading no 35 is just above neutral

6.      January 2016 Purchasing Managers’ Index is worst reading to date, fx the culprit

7.      Purchasing Managers’ Index reading no 34 is below water, fx to blame

8.     PMI reading no 33: healthy and flattish – Jan 04, 2016

9.      December 2015 PMI is well above water for now – Jan 04, 2016

10.  November 2015; Comfortably above water – Dec 01, 2015

11.   PMI reading no 32: Still above water – Dec 01, 2015

12.  PMI reading no 31: a modest pick-up – Nov 02, 2015

13.  PMI reading no 30: Just above the water – Oct 02, 2015

Related News
SCROLL TO TOP