The Purchasing Managers’ Index (PMI) for January 2025 stood at 50.2 points, signaling an expansion in economic activities for the second consecutive month, according to the latest report released by the Central Bank of Nigeria (CBN) on Friday.
The data reflected a positive trend in key sectors, including industry and agriculture, while the services sector experienced a contraction.
The breakdown of the index showed that the composite output, new orders, and employment levels recorded growth at 50.9, 50.2, and 50.2 points, respectively, reflecting an overall expansion during the review period. However, the composite stock of raw materials declined to 49.8 points, while the suppliers’ delivery time slowed further to 49.6 index points, suggesting delays in supply chains.