Again,
Nigeria’s Manufacturing Purchasing
Managers’ Index (PMI) rose to 45.8 index points in May 2016, compared to
43.7 in the preceding month.
This according to the PMI report for May
2016 posted on the Central Bank of Nigeria’s website wednesday, implied
that the manufacturing sector declined at a slower rate during the
review period.
Of the 16 manufacturing sub-sectors, 11
recorded decline in the review month in the following order: primary
metal; paper products; petroleum & coal products; furniture &
related products; fabricated metal products; printing & related
support activities; nonmetallic mineral products; electrical equipment;
textile, apparel, leather & footwear; food, beverage & tobacco
products and chemical & pharmaceutical products. The remaining five
sub-sectors however recorded expansion in the following order: computer
& electronic products; appliances and components; cement; plastics
& rubber products and transportation equipment.
Also, at 49.3 index points, the
production level index for manufacturing sector declined for the fifth
consecutive month, but at a slower rate than that recorded in April
2016. Of the 16 manufacturing sub-sectors, 10 recorded decline in
production level during the review month in the following order: primary
metal; petroleum & coal products; electrical equipment; printing
& related support activities; paper products; fabricated metal
products; nonmetallic mineral products; furniture & related
products; textile, apparel, leather & footwear and food, beverage
& tobacco products.
The transportation equipment sub-sector
recorded no change. The remaining five recorded growth in production
level during the review month in the following order: cement; plastics
& rubber products; appliances & components; chemical &
pharmaceutical products and computer & electronic products.
In addition, it showed that the new
orders index rose to 43.2 index points in May 2016, but still indicating
a decline for the fifth consecutive month. The 12 sub-sectors that
recorded declines in new orders were: primary metal; petroleum &
coal products; transportation equipment; fabricated metal products;
furniture & related products; paper products; printing & related
support activities; nonmetallic mineral products; textile, apparel,
leather & footwear; chemical & pharmaceutical products;
electrical equipment and food, beverage & tobacco products. The
appliances & components sub-sector recorded no change.
Obinna Chima/Thisday
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