WATCH THE VIDEO HERE By Aduragbemi Omiyale Data released by Stanbic IBTC Bank in its Purchasing Managers’ Index (PMI) showed that the private sector recorded slowdowns in growth of output and new orders as a result of subdued demand and intense price pressures. The report noted that the headline PMI for June 2024 read 50.1 points, which is lower than the 52.1 points recorded in May 2024 and the lowest in seven months. It was disclosed that there were signs of inflationary pressures picking up, with purchase prices, staff costs and selling charges all increasing more quickly than in May. Although new orders continued
Intense Price Pressures Slow Down Output Growth in Nigeria
