Economic activities resume expansion —CBN report

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The level of economic activities in Nigeria may have returned to expansion, though marginally, in March 2019 after a dip recorded last month.

Central Bank of Nigeria (CBN), reporting its Purchasing Managers Index (PMI) for the current month said the indicator rose to 57.4 points as against 57.1 points last month. The indicator was 58.5 points in January 2019.

Similarly, the Non Manufacturing PMI grew to 58.5 percent in March from 58.4 percent in February.

CBN
The Central Bank of Nigeria head office in Abuja.

The report showed that out of the 31 subsectors surveyed, 25 subsectors recorded growth while four subsectors contracted.

The report stated: “The  Manufacturing PMI  in the month of March stood at 57.4 index points, indicating expansion in the manufacturing sector for the twenty-fourth consecutive month.

“The index grew at a faster rate when compared to the index in the previous month. Eleven of the 14 subsectors surveyed reported growth in the review month in the…



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