Nigeria PMI eases from record high in JuneStaff Writer | July 5, 2018
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) eased down from May’s record high of 59.1 to 58.4 in June.
Africa Input price inflation remained elevated in June
June’s reading reflected solid output growth, which grew at one of the quickest rates in the survey’s history.
In addition, strong increases were also seen in new orders and employment.
On the price front, input price inflation remained elevated in June due to higher prices for commodities and higher staff wages.
FocusEconomics Consensus Forecast panelists expect fixed investment growth to reach 3.1% in 2018, which is unchanged from last month’s forecast. In 2019, fixed investment is seen increasing 2.5%. ■