In March, the Nigerian private sector witnessed significant challenges due to currency weakness, leading to a surge in purchase costs and subsequent unprecedented hikes in selling prices. This scenario was reflected in the Purchasing Managers’ Index™ (PMI®), a key indicator…
Stanbic IBTC Bank Nigeria PMI®: Nigerian private sector faces contraction amid soaring price pressures
Amidst a backdrop of severe and escalating price pressures, the Nigerian private sector witnessed a concerning contraction midway through the third quarter of this year, according to the latest report from the Stanbic IBTC Purchasing Managers’ Index™ (PMI®). The survey,…
Stanbic IBTC Bank PMI: Steep price pressures impact growth in July
The Nigerian private sector experienced a slowdown in growth in July due to steep price pressures, according to the Stanbic IBTC Purchasing Managers’ Index™ (PMI®). Overall input costs surged to unprecedented levels, leading to a rapid increase in selling prices.…
