PMI Report Indicates Contraction In 70% Of Economic Subsectors         Central Bank of Nigeria (CBN) said that 70 percent of the sub-sectors surveyed for its monthly Purchasing Managers Index (PMI) experienced contraction in December. The report showed that out of 31 sub-sectors surveyed, 22 recorded contraction while...

Manufacturing Sector Recovers After Six-month Contraction         The nation’s manufacturing sector has snapped out of the doldrums after contracting for six straight months, a new survey by the Central Bank of Nigeria has shown. The CBN, in its latest Purchasing Managers’ Index Survey Report, said the manufacturing...

Manufacturing Sector Hits Sixth-month Slow Growth         The Purchasing Managers Index for the manufacturing sector which started contracting in May recorded another contraction in October according to the Central Bank of Nigeria. The statistics department of the CBN disclosed in its ‘Purchasing Managers’ Index survey report for...

Manufacturers’ Outstanding Dollar Demands Hit $729,450,430       The inability of manufacturers to access foreign exchange for the importation of raw materials, equipment and machinery has led to a backlog of dollar-denominated letters of credit valued at $729,450,430. Data obtained from the Manufacturers Association of Nigeria showed that...

Manufacturing Sector Slumps 5th Time In A Row       For the fifth consecutive time, the manufacturing sector growth slumped, data from September purchasing managers index show. The data released by CBN statistics department indicated that the Manufacturing PMI in the month of September stood at 46.9 index...

Economic Activities Rebounded In August - Report       The recovery in the Nigerian private sector gathered momentum in August as demand improved following the easing of restrictions related to the coronavirus disease. Stanbic IBTC Bank Plc disclosed this in its Purchasing Managers’ Index survey, which was conducted...