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2026-11-02 17:30:25
[Nigeria's Private Sector PMI Slightly Decreases to 55.7 in October] ⑴ Nigeria's October 2026 PMI slightly decreased to 55.7 from 56.4 in September, indicating that private sector business conditions improved for the ninth consecutive month, but at a slower pace. ⑵ New orders and business activity growth slowed slightly, and employment expansion slowed to a three-month low. ⑶ Output increased in all four monitored sectors. ⑷ Work backlogs declined for the third consecutive month, at the fastest pace since January. ⑸ Purchasing activity continued to rise, but the increase in purchasing inventories slowed compared to September. ⑹ On the price front, rising fuel costs pushed purchasing price inflation to a four-month high, while sales price inflation also accelerated to its fastest pace in four months. ⑺ Despite a slight decline from September, business confidence remained strong and positive.
