Nigeria’s Private Sector Growth Hits 19-Month High As Demand Surges, Inflation Eases
Nigeria’s private sector recorded its strongest expansion in over a year and a half, as the Stanbic IBTC Bank Purchasing Managers’ Index (PMI) rose to 54.2 in August, up from 54.0 in July, marking a 19-month high in new order growth and a four-month high in output. The PMI reading, which has remained above the…