Nigeria’s CfC Stanbic Bank Purchasing Manager Index rises to 46.8 in September

04af3f34de2f909b68ae5d07ed6ca171_xlThe CfC Stanbic Bank Purchasing Manager Index (PMI) reported by Markit Economics in Nigeria has been put at 46.8 in September of 2016 up from 46.3 in the previous month.

It showed that output went down for the eighth straight month due to weak demand; Lower exports weighed on new orders and job losses were sustained during September; Input prices rose as purchasing cost went up at the fastest pace since February.

Composite Pmi in Nigeria averaged 50.16 from 2015 until 2016, reaching an all time high of 54.50 in December of 2015 and a record low of 46.30 in August of 2016.

About the Author