Nigeria’s Manufacturing Sector contracts for 6th consecutive month
The manufacturing sector contracted for the sixth consecutive month as 8 subsectors contracted out of 14.
The manufacturing sector contracted for the sixth consecutive month as 8 subsectors contracted out of 14.
The CBN disclosed in its September PMI report that the manufacturing sector contracted.
For the second consecutive month, the non-manufacturing PMI showed broad-based improvement.
As key sectors continue to suffer contraction, unemployment may surge in the economy.
This is the first clear data-driven sign that Nigeria is in a recession.
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