India and Nigeria PMI Forecasts Show Steady Growth Amid Manufacturing Challenges

India's Purchasing Managers' Index (PMI) is projected to remain firm at 57‑59 for FY27, with the services sector—particularly IT and healthcare—driving growth. Manufacturing recovery is expected to hinge on lower input costs, resolution of the West Asia conflict, continued government capex and PLI‑led investments, according to a Brickwork report.

In Nigeria, the Stanbic IBTC PMI slipped to 53.4 in June, indicating a slowdown in private‑sector expansion as manufacturing contracted. Despite the dip, business confidence hit its highest level in a year and employment rose for the 13th consecutive month. Analysts cite optimism about future output but warn of risks from insecurity, exchange‑rate pressures, extreme weather and global capital‑flow volatility.