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Tag: PMI

FX payments rose to $1.3bn in February - CBN
Business

FX drives business costs to highest in 10 years

Due to the February weakening in the currency rate, businesses in Nigeria saw the biggest increase in input costs in a decade. The Times recorded that the Purchasing Managers Index for February 2024 by Stanbic IBTC indicates that business conditions saw the lowest improvement since December 2023, as Nigeria’s business PMI fell sharply from 54.5 […]

Inflation causes decline in private sector productivity, employment - PMI
Business

PMI rises to 52.7 in December – Report

The most recent Stanbic IBTC PMI survey has revealed that the business environment in Nigeria improved in December 2023, with the Purchasing Managers Index climbing to 52.7 from 48.0 in November. The PUNCH reported that despite the increase, the business forecast for the new year is the lowest it has been since 2014. The increase was the […]

Inflation causes decline in private sector productivity, employment - PMI
Business

Inflationary pressures hurting business growth – Stanbic IBTC’s PMI

The Stanbic IBTC’s Purchasing Power Index, PMI, data published yesterday, has revealed that the removal of Nigeria’s fuel subsidy may have reduced business confidence in June 2023 as inflationary pressures rose. According to the study, although they had slowed down, output growth and new order growth both continued to be significant. “Business optimism dropped to almost record-low […]