Purchasing Managers’ Index (PMI) hit 52.1 Index Points in May 2025

The Purchasing Managers’ Index (PMI) report for May 2025 from the Central Bank of Nigeria (CBN) indicated that the composite PMI reached 52.1 index points, reflecting an increase in economic activities for the sixth month in a row, suggesting a sustained positive trend in the Nigerian economy.

The industrial sector recorded a growth of 51.6 index points for the fifth consecutive month. Likewise, the services sector, with 51.7 index points, indicated a continued rise in incoming business orders.

Moreover, the agriculture sector led with 53.4 index points, achieving its tenth consecutive month of expansion, largely due to a rise in new orders. Additionally, the composite output index (52.5), new orders (52.7), and employment level (51.1) also showed positive trends in May, reinforcing a hopeful outlook for Q2 2025.

However, despite these advancements, the report pointed out persistent pressure on business profit margins as input costs continue to exceed output prices. To maintain the growth momentum, targeted interventions are necessary, such as enhancing access to affordable energy and improving transport infrastructure, which will aid in lowering operational costs for businesses in Nigeria. SOURCE: CSEA Africa