Nigeria’s private sector growth drops in June, with business activity slowing to the lowest in seven months despite signs of easing inflation, the latest Purchasing Managers’ Index (PMI) report by Stanbic IBTC Bank shows.
According to the report, the headline PMI fell to 51.6 in June from 52.7 in May, marking the weakest expansion since the current growth streak began late last year.
While the reading remains above the 50.0 threshold, a sign of improving business conditions, the slower pace underscores the fragile nature of Nigeria’s economic recovery.
