Production level, inventories, others grew in December
PRODUCTION level, new orders, supplier delivery time, employment level and raw materials inventories grew at a faster rate in December 2019.
The Statistics Department of the central Bank of Nigeria disclosed this in its Purchasing Managers’ index survey for the month of December.
The Manufacturing PMI in the month of December stood at 60.8 points, indicating expansion in the manufacturing sector for the 33th consecutive month.
The index grew at a faster rate when compared to the index in November.
According to the report, “All the 14 surveyed subsectors reported growth in the review month in the following order: petroleum & coal products; transportation equipment; plastics & rubber products; food, beverage & tobacco products; fabricated metal products; furniture & related products.
“Primary metal; chemical & pharmaceutical products; printing & related support activities; textile, apparel, leather & footwear; cement; paper products; electrical equipment; and non-metallic mineral products.”
it stated that at 61.8 points, the production level index for manufacturing sector grew for the 34th consecutive month in December 2019.
The index indicated a faster growth in December, when compared to its level in November 2019.
Eleven of the 14 manufacturing subsectors recorded increased production level, two remained unchanged while one recorded decline.
At 61.5 points, the new orders index grew for the 33th consecutive month, indicating increase in new orders in December 2019.
The index grew at a faster rate, when compared to its level in November 2019.
Twelve subsectors reported growth, one remained unchanged while one recorded decline in the review month.
The manufacturing supplier delivery time index stood at 60.5 points in December 2019, indicating faster supplier delivery time.
The index had recorded growth for 31 consecutive months.
Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while two declined in the review period.
The employment level index for December 2019 stood at 58.0 points, indicating growth in employment level for the 32nd consecutive month.
of the 14 subsectors, 10 reported increased employment level, three reported unchanged employment level while one reported decreased employment in the review month.
The Manufacturing sector inventories index grew for the 33rd consecutive month in December 2019.
At 62.4 points, the index grew at a faster rate when compared to its level in November 2019.
Twelve of the 14 subsectors recorded growth, while two reported declined raw material inventories in the review month.
The composite PMI for the non-manufacturing sector stood at 62.1 points in December 2019, indicating expansion in nonmanufacturing PMI for the 32nd consecutive month.
The index grew at a faster rate when compared to its level in November 2019.
Part of the report read, “All 17 surveyed subsectors recorded growth in the following order: management of companies; repair, maintenance/washing of motor vehicles; water supply, sewage & waste management; arts, entertainment & recreation; real estate rental & leasing; utilities; finance & insurance; transportation & warehousing;
“Accommodation & food services; wholesale/retail trade; educational services; construction; information & communication; professional, scientific, & technical services; health care & social assistance; electricity, gas, steam & air conditioning supply; and agriculture.”
At 62.6 points, the business activity index grew for the 33rd consecutive month, indicating expansion in non- manufacturing business activity in December 2019.
All 17 survey subsectors recorded growth in business activity in the review month.
At 61.9 points, new orders index grew for the 33rd consecutive month in December 2019.
All the 17 surveyed subsectors recorded growth in new orders during the review period.
The employment level index for the nonmanufacturing sector stood at 60.8 points, indicating growth in employment for the thirty-second consecutive month.
All 17 surveyed subsectors recorded growth in employment level in the review period.
At 63.1 points, nonmanufacturing inventory index grew for the 32nd consecutive month, indicating growth in inventories in the review period.
All the 17 surveyed subsectors recorded higher inventories in December 2019.
• L-R: Chairman, Nigeria Union of Journalists, Lagos Chapter, Dr Qasim Akinreti; Director, Corporate Communications and CSR, Airtel Nigeria, Emeka Oparah; and Chairperson, Nigeria Association of Women Journalists, Lagos State chapter, Adeola Ekine, during the presentation of the NUJ award to Oparah in Lagos… recently.