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Browsing: Stanbic IBTC Bank Nigeria
- Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October from 49.8 reported in September.
- This is a pointer that the country suffered a marked deterioration in business conditions during the start of the fourth quarter.
- Stanbic Bank report says this was the most pronounced dip in private sector trade activity since March last year.
Nigeria suffered the third-fastest rise in overall input prices on record in October 2024 forcing a downturn in the country’s private sector activity at the start of the final quarter of the year.
Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October from 49.8 reported in September, a pointer that the country suffered a marked deterioration in business conditions. The bank said this was the most pronounced dip in trade activity since March last year.
Persistent price pressures across sectors saw consumers scale back on their spending priorities, contributing to a …