AUGUST INFLATION REPORT
The August CPI numbers released by NBS shows that headline inflation moderated marginally to 15.39% y/y in August, from 15.43% in July. While the 4bps decline in the annual rate was modest, the more significant development was the sharp moderation in MoM inflation, which slowed to 0.71% from 1.57%. This indicates a meaningful easing in […]
Nigeria’s August PMI:Private Sector Recovery Gains Momentum, but Industry Still Lags
Summary Nigeria’s recovery is starting to look more credible, but until we see a clear uptick in industrial demand, the economy still hasn’t managed to transform macroeconomic stabilization into a broad-based cycle of stronger corporate earnings and improved living standards for the man on the street. Where We’re Coming From Nigeria’s private-sector activity strengthened further […]
Nigeria’s July PMI: Demand Recovers, but Industry Remains the Missing Link
Summary: Nigeria’s private-sector activity strengthened in July, with the Composite Purchasing Managers’ Index (PMI) rising to 51.1 from 50.1 in June, marking a second consecutive month of expansion. More importantly, the improvement was underpinned by stronger demand, as New Orders rose to 50.8 from 49.0 and Output increased to 51.8 from 50.5. The recovery, however, […]