Nigeria’s private sector concluded the third quarter of 2021 with a modest expansion in business conditions. Quicker uplifts were seen in new orders, employment and stocks of purchases, but output growth moderated for the second month running. Nevertheless, optimism improved to a seven-month high. Material scarcity and unfavourable exchange rate movements exerted upward pressures on…
Tags: Stanbic IBTC PMI
Stanbic IBTC: Softer Inflows of New Work Prompt Moderation In Private Sector Activity Growth
Business conditions in Nigeria’s private sector improved modestly midway through the third quarter, but the rate of growth slowed to a six-month low. Softer upticks in output, new orders and employment contrasted with quicker expansions in held inventories as firms seek to take advantage of faster lead times, and protect against any future supply shocks.…