Nigeria’s Purchasing Managers’ Index (PMI), a gauge for manufacturing sentiments, rose in December amid inflationary pressure on consumers.
The latest PMI issued on Tuesday echoed concerns in the broader economy about Nigeria’s defiant inflation, which is currently at its ten-month high.
Vulnerabilities in the exchange rate of the naira to the US dollar were highlighted as pivots driving costs up by Stanbic IBTC Bank, which runs the survey monthly, in partnership with London-based market intelligence powerhouse S&P Global Platts and the National Bureau of Statistics.
