Manufacturers’ CEO confidence declines for Q1

The Manufacturers CEO’s Confidence Index (MCCI) of the Manufacturers Association of Nigeria (MAN) for the first quarter of 2022 stands at 53.9points, which is a decline of 1.5points from the 55.4points index score recorded in the fourth quarter of 2021. MCCI of the MAN is a quarterly research and advocacy publication of the association, which […]

The Manufacturers CEO’s Confidence Index (MCCI) of the Manufacturers Association of Nigeria (MAN) for the first quarter of 2022 stands at 53.9points, which is a decline of 1.5points from the 55.4points index score recorded in the fourth quarter of 2021.

MCCI of the MAN is a quarterly research and advocacy publication of the association, which measures changes in the pulse of operators and trends in the manufacturing sector quarterly, in response to movements in the macroeconomy and government policies using primary data mined through a direct survey on over 400 Chief Executive Officers of MAN member-companies.

The standard diffusion factors deployed in the MCCI analytic processes include the current business condition, business condition for the next three months, current employment condition, employment condition for the next three months and production level for the next three months.

MCCI also has a baseline index of 50points that suggests a stationary point in the economy and affirms the level of confidence and performance in the quarter under review. Points above 50 indicate that manufacturers have confidence in the economy and improvement in manufacturing performance, while any index point below 50 indicates otherwise.

Since the second quarter of 2021, the MCCI score has remained above the 50 neutral points, reaching 55.4 points in the fourth quarter but the first quarter of 2022 recorded a 1.5points decline.