Why Nigeria's January manufacturing PMI fell to 48.2 - CBN

The Markit Canada Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 53.5 last month from 51.8 in December, its highest level since December 2014.

Slower growth of business activity largely reflected a moderation in new order gains at the start of 2017.

China's manufacturing sector expands for the sixth month in a row, adding evidence that the world's second largest economy is stabilizing amid uncertain global outlook.

In the PMI report posted on its website, the CBN said, "A composite PMI above 50 points indicates that the manufacturing/ non-manufacturing economy is generally expanding, 50 points indicate no change and below 50 points indicate that it is generally declining". The latest increase in employment numbers was the fastest for eight months, while sub-contractor usage rose at the steepest pace since December 2015.


All three sub-sectors of housing, commercial and civil engineering saw output soften, but remain above July's lows, with housebuilding enduring its weakest expansion for five months, with its activity index sinking to 52.6 from 54.9 in December. "IHS Markit is now forecasting a solid 6.4% increase in GDP for 2017". Companies indicated that higher demand for raw materials was testing the capacity at vendors and leading to shortages of certain inputs.

The U.S. manufacturing sector began the year on a strong note with output and new order growth accelerating since the end of 2016, according to a report Wednesday. "In addition, demand for new homes likely will deteriorate this year as high inflation squeezes households' real incomes and as lenders reflect the recent pickup in funding costs in mortgage rates".

The healthy expansion came despite a record increase in input prices, as inflationary pressure continues to build following the devaluation of sterling since the vote to leave the EU.

Indonesia's manufacturing industry improved in January helped by a rebound in new work intakes but strong cost increases restricted companies' purchasing activity and led to further job shedding.

Related News:

  • President Trump: America saddened by the loss of US commando in Yemen

    It was unclear how many civilians might have been killed in the pre-dawn raid in the rural Bayda province of southwestern Yemen. Other sources spoke of United States commandos taking part in the operation, but it was not possible to verify the information.
    Google parent Alphabet's shares drop as earnings miss expectations

    Google parent Alphabet's shares drop as earnings miss expectations

    The increase in search engine ad revenue also highlights the payoff from Google's 2006 acquisition of YouTube for $1.65 billion . In line with our assessment in the pre-earnings note, much of the growth was driven by mobile search and YouTube.

    Halliburton Beats Profit Expectations, But Sales Miss

    The average true range of the stock is observed at 1.01 and the relative strength index of the stock is recorded at 63.57. On average, equities analysts predict that Halliburton Company will post $1.15 earnings per share for the current year.
  • French parliament raided by investigators in Francois Fillon probe

    French parliament raided by investigators in Francois Fillon probe

    With the inquiry gathering pace, party officials began to wonder whether, and how, they might replace him. The poll was carried out online on Monday and Tuesday among 974 people. "I'm confident, I'm unperturbed".
    Predicted Liverpool Lineup vs Chelsea: Klopp to make late Mane decision

    Predicted Liverpool Lineup vs Chelsea: Klopp to make late Mane decision

    I mean, Tuesday January 31. "He is kind of an option for the Chelsea game. Even they left the Capital One Cup before we did.

    Over 82000 gamers have played Resident Evil 7 in VR

    Other stats that reveal larger story spoilers are hidden behind a lock-screen that can be unlocked when you complete the game. But it's certainly not enough to spoil what is an otherwise stellar survival horror game that's dripping with atmosphere.
  • John Hurt, 'Alien' and 'The Elephant Man' Star, Dies At 77

    The formidable and distinguished actor had battled pancreatic cancer in 2015 and passed away on Wednesday at his home in Norfolk. Hurt was born in 1940, in Chesterfield, Derbyshire, England and studied acting at Royal Academy of Dramatic Art.
    Today, US Gets Back Control of Its Border

    Today, US Gets Back Control of Its Border

    Trump views the wall, a major part of his election campaign, as part of a package of measures to curb illegal immigration. Those U.S.jobs could be jeopardized if trade halts along the U.S. -Mexico border, which reportedly happened when U.S.
    Shia LaBeouf Arrested For Assaut at Anti-Trump Protest in NYC

    Shia LaBeouf Arrested For Assaut at Anti-Trump Protest in NYC

    On Thursday morning, Shia LaBeouf was arrested after having a physical altercation with another man . LaBeouf will be facing a misdemeanor charge and it's not now known what caused the altercation.
  • Australian Open: Rafa Nadal responds to setting up Roger Federer final

    Australian Open: Rafa Nadal responds to setting up Roger Federer final

    When one Williams walked out after winning the semifinal, the other entered for her's and the sisters barely exchanged glances. He improved his record in Grand Slam semifinals to an impressive 21-3 and advanced to his fourth Australian Open final.
    President Trump signs executive order defunding International Planned Parenthood

    President Trump signs executive order defunding International Planned Parenthood

    On the other hand, opponents argued that Trump's order reflected his disregard of women's reproductive health rights. An anti-Trump demonstrator protests at an abortion rights rally in Chicago, Illinois, Jan. 15, 2017.

    Russia, Turkey, and Iran Make Deal to Back Syria Ceasefire

    He told reporters that the deal paves the way for more dialogue among Syrians in the future. They started in Astana , the capital of Kazakhstan, on Monday.


Most liked

GOP senators oppose DeVos as education secretary
Lisa Murkowski of Alaska and Susan Collins of ME both said on Wednesday that they would oppose DeVos's nomination. Al Franken (D-MN) no Democrat is going to support DeVos.

Ban Ki-moon rules out presidential run
Her relationship with close friend, Choi Soon-sil reportedly led to the latter's growing influence and financial benefits. Ban, during a hastily arranged news conference, said he was disappointed by the country's political establishment.

Pet snake gets stuck in woman's gauged earlobe
An Oregon woman wound up with an unwanted accessory after her pet snake chose to crawl through a piercing in her ear. Turns out Bart was hanging out on her shoulders when Glawe thought he started attacking her head.

Kim Kardashian Stolen Jewelry Melted Down for Pennies
Kim Kardashian West also has yet to comment on the recently released confession of the robbery's mastermind. It detailed the events that took place on the day she was robbed inside her hotel room.

Trump adds Steve Bannon to national security team
His expanded role in the White House was followed on Saturday by the hashtag, #StopPresidentBannon , trending on Twitter . John McCain, chairman of the Senate Armed Services Committee, speaking on Sunday's Face the Nation .

Girl Scouts celebrate 100 years of cookie sales
For more information on where to buy cookies, visit the booth sale locator through the link included with this story on our website or download the Cookie Finder app on your mobile phone.

Selena Gomez and The Weeknd are on holiday. In Italy. RIGHT NOW
The Weeknd , meanwhile, sported a navy jacket paired with a black tee, trousers and sneakers. News they looked "smitten" as they left the arcade.

IVape? Patent outlines the least cool product in Apple history
So, it is just a speculation that Apple could venture into developing an e-cigarette or a marijuana vaporizer. But ever thought of a vaporizing machine under the big brand name 'Apple, ' that maybe called "iVape".

Céline Dion and Gwen Stefani are teaming up on 'The Voice'
We gotta put it out there. "I know Gwen very well, I know her career, I know how lovely she is all the time". The R&B crooner will be serving as an adviser to coach Adam Levine's team, E!

British PM Theresa May
Trump threw his weight behind Britain's exit from the European Union, saying it would be a "wonderful thing" for the country. The US-UK defence relationship is the deepest of any two countries, May said during the press conference.

Trump Will Keep Vow to Put Embassy in Jerusalem, Giuliani Says
On Sunday, Jerusalem municipality announced the construction of about 670 homes in contested east Jerusalem . We can safely say that the American right-wing has not been as euphoric as the Israeli right-wing.

Mark Zuckerberg is dropping his Hawaiian land lawsuits, calling them 'a mistake'
What has got Zuckerberg's goat is that the families have the rights to travel across Zuckerberg's property. Numerous plots are what are known as kuleana lands.

Madeleine Albright: I will 'register as Muslim'
Albright believes she needs to show support to Muslim Americans who have felt persecuted by President Donald Trump . Albright also tweeted Wednesday that "America must remain open to people of all faiths & backgrounds".

Madonna's Coming for Angelina Jolie, Adopting 2 More Kids
Madonna has denied reports that she is seeking to adopt two more children from Malawi. Lilongwe High Court officials said Madonna appeared before Justice Fiona Mwale.

Chelsea Handler Doubles Down Attacks on Melania Trump, Condones Bullying Barron Trump
Handler has been a vocal critic of President Donald Trump, telling other media outlets that she would not have him on her show. Chelsea says she wouldn't have the First Lady Melania Trump on her talk show because "she can barely speak English".