The Stanbic IBTC's Nigeria's Purchasing Manager Index (PMI), which gauges the overall direction the economy is heading and the health of the economy, gives an outlook of Nigeria's economy for the month of September.
Nigeria's private sector reported what could hardly pass as growth in September, with prices of inputs accelerating at one of the swiftest rates ever in response to a weaker naira and steeper cost of running business., which gauges the overall direction the economy is heading and the health of the economy, stood at 51.1 in the month that just went by, compared to 50.2 in August, according to Stanbic IBTC's Nigeria's PMI issued on Monday.
The Central Bank of Nigeria refrained from releasing the data at the end of 2020 after at least five years of consistent publication, forcing"Prices remained elevated, with input and purchase prices remaining at period highs," said Muyiwa Oni, who heads equity research for West Africa at Stanbic IBTC Bank.
"Input prices increased materially across the major sectors covered, with inflationary pressures most pronounced in wholesale & retail and manufacturing."). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material,, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons.
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