Report: Manufacturing Decreases Amidst Increasing Economic Productivity in Other Sectors
Dike Onwamaeze
The Stanbic IBTC’s Purchasing Managers’ Index (PMI) report for June 2026 stated that manufacturing recorded a decrease in output even though improving demand helped to support further increases in output of Nigeria’s private sector in the first half of 2026.
According to the report, the health of the private sector has now strengthened in five successive months as business activity expanded across three of the four broad sectors covered by the survey, the exception being manufacturing.
It said: “As has been the case in each month since December 2024, business activity increased in Nigeria’s private sector during June. The latest rise was solid, albeit slower than that seen in May. According to respondents, higher output reflected a range of factors including stronger client demand, rising customer numbers and the opening of new branches.”
