The October Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 49.4 index points, indicating a reversal of five consecutive months of contraction which started in May.
This is according to the result of PMI survey released by the Statistics Department of Central Bank of Nigeria (CBN) on Tuesday. The News Agency of Nigeria (NAN) reports that the manufacturing PMI for the month of September was 46.9 index points. The survey revealed that of the 14 subsectors surveyed, six recorded expansion above 50 per cent threshold…
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