Nigeria’s manufacturing sector shrank for the second month in a row in March as cash scarcity in Africa’s biggest economy hampered private sector activity.
The development forced output and new orders to drop at rates steeper than those of the preceding month.
The latest edition of Stanbic IBTC Bank Nigeria PMI, which measures factory activity in the country, puts Nigeria’s purchasing manager index for March at 42.3 compared to 44.7 for February.
NigeriaDNA is a Direct News source that delivers the latest news, buzz, and stories from some of Nigeria’s most popular and trusted news websites. NigeriaDNA facilitates this by publishing headlines linking to breaking news and curated snippets from a diverse range of Nigerian credible, independent, and public-interest news sources. Our editors make it easy for Nigerians abroad and diaspora to discover top news stories in real-time as they're posted and directly linked to Nigeria's authoritative News Sources.
© 2024 All Rights Reserved | Curated and Powered by Nigeria DNA
