PMI reading no 35: back just above neutral
​The latest report for our manufacturing Purchasing Managers’ Index (PMI), the first in Nigeria, shows a recovery from 44.6 in January to 50.6. Our partner, NOI Polls, has compiled the data. The index is a familiar data release at the start of the calendar month in developed markets (such as the ISM in the US), the larger emerging markets such as China, and a few other frontiers. It is based upon the responses of manufacturers to set questions on core variables in their businesses. The index should be viewed as a forward-looking sentiment indicator, with the proven ability to move markets.
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