Nigeria’s S&P Global/ Stanbic IBTC Bank PMI fell to 52.3 in August from 53.2 in the month prior.
While the index declined in August, it remained above the 50-point neutral mark, signalling a continued improvement in business conditions, albeit at a slower pace. Survey results show that softer upticks were recorded in output, new orders, and purchasing activity, while employment rose at a quicker pace.
Meanwhile, input price inflation rose at the second-fastest pace on record. While firms remained optimistic about output growth in the year ahead, the degree of positivity was the weakest for nine months.
