RSS   Newsletter   Contact   Advertise with us

Nigeria PMI eases from record high in June

Staff 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.
Nigeria PMI
Africa   Input price inflation remained elevated in June
Despite the fall, the PMI lies far above the 50-point threshold that separates expansion from contraction in business conditions, pointing to robust growth in the private sector.

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%.


 

MORE INSIDE POST