- Nigeria’s PMI rises to 51 in December, indicating expansion after two months of contraction.
- Services and agriculture sectors lead the rebound, despite slower supplier delivery times.
Lagos, Nigeria – Business activity in Nigeria rebounded in December following two months of contraction, buoyed by growth in the services and agriculture sectors, according to data released by the Central Bank of Nigeria (CBN) on Friday. The country’s Purchasing Manager Index (PMI), which measures the overall health of manufacturing and services sectors as well as economic trends, rose to 51 points. A reading above 50 denotes growth, while below that threshold indicates deterioration.
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