February data pointed to improved growth momentum in the Nigerian private sector. Rates of expansion in output, new orders and purchasing activity all quickened as demand picked up and inflationary pressures showed signs of moderating. That said, with costs continuing to rise sharply, some companies were reluctant to hire additional staff and employment increased only…
The final month of 2021 revealed a robust expansion in Nigeria’s private sector with the PMI® improving to a 24-month high. Quicker uplifts in output and new orders as well as record inventory building were central to the improvement. Despite the surge in new orders, firms added to their headcounts at the softest pace for…
February data signalled another modest expansion in the Nigerian private sector, underpinned by solid growth in new orders and output. Companies continued to expand their purchasing activity and resumed hiring efforts during the month. Signs of spare capacity were again evident, with a fresh record reduction in backlogs registered. Meanwhile, unfavourable exchange rate movements, higher…