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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NigeriaNigeria Stanbic IBTC Bank Nigeria PMI climbed to 54.3 in August 2026
FMPMonthlyReleased September 2026
Nigeria Stanbic IBTC Bank Nigeria PMI climbed to 54.3 in August 2026, released September 2026, up 1.8 from July's 52.5 reading. The reading matched the 52.7 consensus. Stanbic IBTC Bank Nigeria PMI is now the highest in 30 months.
Latest Release
54.3
Actual
52.7
Consensus
52.5
Previous
Median Absolute Error
±1.49
across last 12 releases
Last Call
Sep 2026
Predicted: 52.5
Actual: 54.3
Error: -1.8
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▼ Inverse | −0.59 | INDEX | Moves against | → View |
| EUR/USD | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| GBP/USD | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| USD/JPY | ▲ Direct | +0.42 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Stanbic IBTC Bank Nigeria PMI (Nigeria) was reported at 54.30 in September 2026. This beat the market consensus of 52.70 by 1.60. The reading rose from the previous value of 52.50. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 53.02, ranging from 49.70 to 54.30 across 10 releases.
WHY IT MATTERS
The trailing three releases averaged 53.63, up from the prior three at 51.60. Volatility over the past year (σ 1.31) is lower than the prior year (σ 2.39). In September readings over the past 3 years, Stanbic IBTC Bank Nigeria PMI has averaged 52.80.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with S&P 500 (Bearish S&P 500). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 1.49.
WHAT TO WATCH NEXT
The next release is scheduled for October 2, 2026.
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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Stanbic IBTC Bank Nigeria PMI - NG
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About Stanbic IBTC Bank Nigeria PMI — Nigeria
DEFINITION
The Stanbic IBTC Bank Nigeria PMI is a widely recognized financial indicator that measures the economic health of Nigeria's private sector. It is based on monthly surveys of purchasing managers from various industries, providing valuable insights into business conditions, employment trends, and overall economic activity in the country. This indicator is highly regarded by investors, policymakers, and businesses as a key tool for monitoring and forecasting economic performance in Nigeria.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 54.3, consensus 52.7. Prior reading (Jul 2026): 52.5. Before that (May 2026): 54.1.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bearish S&P 500, r=-0.59) — a useful reference for index-focused traders.
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EXPECTED ZONE
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