Manufacturing: Momentum In Activities Slows In January
February 3, 2020
11:05 am
According to the Purchasing Managers Index (PMI) data released by the Central Bank of Nigeria (CBN) for the month of January, the momentum in the level of activities cooled in both the Manufacturing and Non-manufacturing sectors.
Specifically, the Manufacturing-PMI for the month of January slowed to 57.9 index points (December; 60.8 index points), following broad-based declines in all of the five major indices; Production level ( -2.2), New orders (-1.8), Raw materials/WIP Inventory (-1.7), Supplier delivery time (-1.4) and Employment level (-0.7) used in gauging the manufacturing sector.
The decline reflects the waning momentum that characterizes business activities at the …
