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 in August.
The report, which was released on Thursday, showed that output and new orders rebounded, rising sharply from July. Employment was broadly stable, although excess capacity remained as a result of the severe declines in new business during the second quarter. The headline PMI rose sharply in August to 54.6, up from 50.4 in July, it stated…
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