Punch Newspapers
Sections
The manufacturing sector recorded contraction in December, the Central Bank of Nigeria said on Thursday.
The Statistics Department of the CBN said this in its ‘Purchasing Managers’ Index Survey Report’ for December 2020.
Part of the report read, “The Manufacturing PMI in the month of December stood at 49.6 index points, indicating a contraction from the expansionary level recorded in the month of November 2020.
“Of the 14 surveyed subsectors, four subsectors reported expansion (above 50 per cent threshold) in the review month in the following order:
“Transportation equipment, non-metallic mineral products, paper products and food, beverage and tobacco products.
“Textile, apparel, leather and footwear subsector remained stationary.”