The Purchasing Manager Index (PMI) of the Stanbic IBTC Bank Plc for the month of May 2022 stated that the manufacturing sector topped the growth experienced by the Nigerian private sector during the month under review.
The report said that the PMI headline reading was 53.9 in May, which was a little lower than the 55.8 recorded in April but sustained a twenty-three successive monthly improvement in business conditions in Nigeria’s private sector. The headline figure derived from the PMI survey above 50.0 signaled an improvement in business conditions on the previous month, while readings below 50.0 showed deterioration.
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News Archive from before July 2018