Nigeria: Manufacturing PMI Stages Recovery in November

19 November 2020

The Central Bank of Nigeria's (CBN) Manufacturing Purchasing Managers' Index (PMI) stood at 50.2 index points in November, indicating recovery from contraction in the manufacturing sector recorded since May 2020.

According to the report for November posted on the CBN's website yesterday, of the 14 sub-sectors surveyed, eight sub-sectors reported expansion (above 50% threshold) in the review month in the following order: transportation equipment, non-metallic mineral products, furniture and related products, cement, textile, apparel, leather and footwear, plastics and rubber products, food, beverage & tobacco products and printing and related support activities.

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