The Central Bank of Nigeria published its August 2025 Purchasing Managers’ Index (PMI) report, with the composite PMI at 51.7 points, indicating expansion in overall economic activity for the ninth consecutive month. Services and agriculture remained in expansion, while the industry sector recorded a contraction. Of the 36 subsectors covered, 22 reported expansion in activity, led by forestry, while 14 subsectors declined, with paper products recording the highest decline. Sector indices stood at 49.1 for industry, 51.9 for services and 53.9 for agriculture, with all five agricultural subsectors expanding. Within the composite PMI, output (52.8), new orders (50.9), employment (51.0) and stocks of raw materials (51.2) increased, and suppliers’ delivery time rose to 52.4 points, indicating faster delivery; the input and output price gap was widest in industry at 7.4 points and lowest in services at 3.7 points.
Central Bank of Nigeria 2025-09-10
Central Bank of Nigeria publishes August 2025 PMI showing composite index at 51.7 and industry contraction
The Central Bank of Nigeria's August 2025 Purchasing Managers’ Index (PMI) report shows a composite PMI of 51.7, marking economic expansion for the ninth consecutive month. Services and agriculture sectors expanded, while the industry sector contracted. Of the 36 subsectors, 22 reported expansion, with forestry leading, and paper products experiencing the highest decline.