Report: Agriculture, Manufacturing Lead in Output Expansion as Price Inflation Ticks Higher

According to the Stanbic IBTC Purchasing Managers' Index (PMI), agriculture and manufacturing led output expansion in Nigeria in August, while price inflation ticked higher. The headline PMI rose to 54.3 in August from 52.5 in July, indicating a solid monthly strengthening in the private sector. Output increased across all four broad sectors surveyed, with marked expansions in agriculture and manufacturing, and business activity grew for the 21st consecutive month.

Read More