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

Philippines PMI growth further slows in January

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:

  • 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.
    Selena Gomez and The Weeknd are on holiday. In Italy. RIGHT NOW

    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.
  • Trump adds Steve Bannon to national security team

    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 .
    Trump Calls Top Senate Democrat's Emotional Response to Muslim Ban 'Fake Tears'

    Trump Calls Top Senate Democrat's Emotional Response to Muslim Ban 'Fake Tears'

    John McCain is exactly right. "The orders make us less humanitarian, less safe, less American", Schumer added. The White House began a damage control effort on Sunday evening that continued into Monday.
    British PM Theresa May

    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.
  • Kim Kardashian Stolen Jewelry Melted Down for Pennies

    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.
    Girl Scouts celebrate 100 years of cookie sales

    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.

    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".
  • AFCON 2017:Hector Cuper has managed to correct previous mistakes-Wael Gomaa

    Cuper said: " Mohsen looks to have a serious problem with a knee but we will need to carry out more detailed tests ". We saw how both teams missed scoring chances.
    IVape? Patent outlines the least cool product in Apple history

    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".

    Head of Border Patrol Union Says Misplaced Agents Delaying Security Measures

    Nightly News said, citing officials familiar with the matter, that Morgan has unexpectedly chose to step down this afternoon. During that visit Mr Trump singled out the union's president, Brandon Judd, while pointedly avoiding mention of Mr Morgan.


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.

Ayew brothers help Ghana reach semis, Egypt edge Morocco
But instead it is Egypt who progress to the last four, their bid to win the title for a record eighth time still very much alive. They are the sons of Ghana football legend Abedi "Pele" Ayew , ranked among the greatest African footballers of all time.

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.

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.

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.

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.

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.

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.

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.

Ugly new WASP named after evil Egyptian God of VIOLENCE and CHAOS
Those were an entirely new species of wasps, and given its behavior, the scientists called them the "crypt-keeper wasps". The new study was recently published in the Proceedings of the Royal Society B . magazine.

Toronto's Chinatown BIA prepares to ring in the Year of the Rooster
Lim said he expects the year-on-year increase in digital payments among the bank's clients may reach 20 percent in 2017. Start to think about what goals you would like to accomplish and what you want to achieve this year.

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".

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.