Nigeria’s economic activities expand after 13 months of contraction – CBN report

Nigeria’s economic activities showed signs of recovery in August, marking the first expansion after thirteen consecutive months of contraction.

The Purchasing Managers’ Index (PMI) for the month, a gauge for the direction of economic activities in Nigeria, stood at 50.2 points, just above the threshold that separates growth from decline.

This was disclosed by the Central Bank of Nigeria (CBN) in its August PMI survey report released on Thursday.

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