Production and employment levels as well as raw materials inventories in Nigeria are growing at a slower rate, while new orders and supplier delivery time grow at a faster rate.
The Central Bank of Nigeria disclosed this in its Purchasing Managers’ Index survey report for this month of September.
The manufacturing PMI stood at 57.7 index points, indicating expansion in the manufacturing sector for the 30th consecutive month.
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The index, however, grew at a slower rate when compared to the reported growth rate in August.
Thirteen of the 14 surveyed sub-sectors reported growth in the review month in the following order: cement; petroleum and coal products; food, beverage and tobacco products; transportation equipment; printing and related support activities.
Others were chemical and pharmaceutical products; furniture and related products; fabricated metal products, non-metallic mineral products; electrical equipment; textile, apparel, leather and footwear; plastics and rubber products; and primary metal.
The paper products sub-sector recorded a decline in the review period.
At 58.5 points, the production level index for the manufacturing sector grew for the 31st consecutive month this month.
The index indicated a slower growth, when compared to its level in August.
Eleven of the 14 manufacturing sub-sectors recorded increased production level, one remained unchanged, while two recorded decline.
At 57.2 points, the new orders index grew for the 30th consecutive month, indicating an increase in new orders in September.
The index grew at a faster rate when compared to its level last month.
Nine sub-sectors reported growth, one remained unchanged, while four contracted in the review month.
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