Latest data from the Central Bank of Nigeria shows an expansion in Nigeria’s manufacturing for sector the third consecutive month since April.
June purchasing managers’ index, PMI rose to 52.9 index points in June 2017.
About 12 of the 16 subsectors reported growth in the review month in the following order: computer & electronic products; paper products; plastics & rubber products; primary metal; transportation equipment; petroleum & coal products; appliances & components; textile, apparel, leather & footwear; furniture & related products; electrical equipment; food, beverage & tobacco products and fabricated metal products.
According to the CBN, the remaining 4 sub-sectors declined in the order: Nonmetallic mineral products; cement; chemical &
pharmaceutical products and printing & related support activities.