COVID-19 Hits Nigeria’s Manufacturing Sector, PMI Falls Again
September 24, 2020
6:01 am
Nigeria’s manufacturing Purchasing Managers’ Index (PMI) has contracted for the fifth consecutive time, falling to 46.9 index points.
The Central Bank of Nigeria (CBN) PMI survey report for September conducted by the Statistics Department revealed this.
Manufacturing PMI for August stood at 48.5 index points.
The monthly PMI report on businesses is based on survey responses indicating changes in business activities compared to previous months.
The September PMI shows that out of 14 sub-sectors surveyed, four reported expansion above 50 per cent threshold, while 10 reported contractions.
According …
