Scarcity of dollar, depressed oil prices and limited fiscal support to contract economy further.
This is the first clear data-driven sign that Nigeria is in a recession.
According to the PMI data for the month of March, activity level declined drastically as both the Manufacturing and Non-manufacturing PMIs slumped to 51.1 and 49.2 points.
The Central Bank of Nigeria [@cenbank] has released the latest Purchasing Managers’ Index (PMI) for July 2019 and it shows that Nigeria’s manufacturing sector keeps expanding with 11 thriving manufacturing businesses.
Nigeria's manufacturing Purchasing Managers’ Index (PMI) grew faster for the 26th consecutive months, indicating further expansion in the manufacturing sector.
The latest manufacturing Purchasing Managers’ Index (PMI) shows that Nigeria’s manufacturing sector expanded for the 25th consecutive months....
However, the business activity index grew at a slower rate 57.8 points for the twenty-fourth consecutive, indicating contraction in non-manufacturing sector.
The manufacturing Purchasing Managers' Index (PMI) for the month of February indicates that Nigeria's manufacturing sector expands
Manufacturers in the country expressed renewed optimism in this month’s purchasing managers index carried out by the Central...
Manufacturing PMI for the month of September stood at 56.2 index points.
Nigeria's Purchasing Managers' Index (PMI) was 57.1 in August 2018 while Non Manufacturing Purchasing Managers' Index was 58 in the same August 2018
