June data signalled a broad stagnation of the Nigerian private sector as subdued demand and intense price pressures led to slowdowns in growth of output and new orders. In turn, employment rose only fractionally. There were signs of inflationary pressures…
Stanbic IBTC Bank Nigeria PMI®: Nigeria’s private sector shows signs of improvement
Nigeria’s private sector showed signs of improvement in May, according to the latest Stanbic IBTC Purchasing Managers’ Index™ (PMI®) data. Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.…
Stanbic IBTC Bank Nigeria PMI®: Private sector grapples with currency weakness impact
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…