• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, July 5, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Business Activity PMI Closes 52.7points As Growth Eases To 4 Months Low

by Olushola Bello
1 month ago
in Business
PMI
Share on WhatsAppShare on FacebookShare on XTelegram

Purchasing Managers Index (PMI) by Stanbic IBTC Bank revealed that business activities performance closed at 52.7 points in May, its lowest level in four months.

Advertisement

The report said although the Nigerian private sector remained in growth territory midway through the second quarter of the year, there were signs of a slowdown in the latest survey period as inflationary pressures remained elevated.

Rates of expansion in output and new orders eased in May, while employment dipped for the first time in six months.

The headline PMI registered 52.7 in May, remaining above the 50.0 no-change mark for the sixth successive month and signalling a solid strengthening of business conditions over the month.

The report also noted that the latest reading was down from 54.2 in April and pointed to the least marked improvement in the health of the private sector since January.

RELATED

ASO Savings Clears 10-yr Backlog Of Audited Accounts, Sustains Profitability Under New Mgt

ASO Savings Clears 10-yr Backlog Of Audited Accounts, Sustains Profitability Under New Mgt

9 hours ago
At LEADERSHIP Twitter Spaces: AMCON Creates Moral Hazard For Banking Industry – Analysts

AMCON Sells 60% Stake In Ibadan DisCo For N100bn

16 hours ago

It added that the slowdown in overall growth was seen across both output and new orders, which each increased at the slowest rates in four months.

According to the report, inflationary pressures remained elevated in May, despite easing slightly from April. Purchase costs rose rapidly amid higher raw material prices, currency weakness and increased transportation costs.

“Staff costs were also up, but at the slowest pace since March 2023 as a reduction in employment acted to limit the rise in wage bills. Workforce numbers decreased for the first time in six months as some firms reported that difficulties paying staff had led to resignations,”the report stated.

Head of Equity Research West Africa at Stanbic IBTC Bank, Muyiwa Oni, said, “business conditions remain in the expansionary territory for the sixth consecutive month in May amid continued improvement in customer demand which is also ensuring businesses launch new products.

“However, the pace of improvement in business conditions slowed relative to April, pointing to the least marked improvement since January. While new orders have now increased in each month since November 2024, some firms implied that market conditions are softening.”

He noted that “the pace of improvement in new orders during May eased to the weakest level in four months. Nonetheless, rising sales and higher customer numbers supported a pronounced output growth across the wholesale & retail and manufacturing sectors.”

Oni pointed out that “given the rising sales and higher customer numbers, companies increased their quantity of purchases for the sixth consecutive month while the rate of inventory accumulation quickened to a three-month high.”

He explained that Nigeria’s business condition is on course to end Q2, 2025 on a positive momentum, albeit relatively weaker than witnessed in Q1, 2025.

 

“This is as currency weakness, higher raw material costs, and increased transport prices have been more pronounced than seen in Q1, 2025. However, as inflation is expected to remain softer compared to the 2024 average, interest rates are likely to be lower this year, thereby helping to support the medium-term economic growth path,” he stated.

 

He maintained that the Nigerian economy is likely to grow by 3.5 per cent Year-on-Year in real terms in 2025 relative to 3.4 per cent Y-o-Y growth in 2024.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Purchasing Managers Index (PMI)
SendShareTweetShare
Previous Post

FG, Greenville LNG Launch LCNG Project, First In North-East

Next Post

Nestlé, Govt Partner On Dairy Capacity Building

Olushola Bello

Olushola Bello

You May Like

ASO Savings Clears 10-yr Backlog Of Audited Accounts, Sustains Profitability Under New Mgt
Business

ASO Savings Clears 10-yr Backlog Of Audited Accounts, Sustains Profitability Under New Mgt

2025/07/04
At LEADERSHIP Twitter Spaces: AMCON Creates Moral Hazard For Banking Industry – Analysts
Business

AMCON Sells 60% Stake In Ibadan DisCo For N100bn

2025/07/04
NADF Unveils Digital Tool To Track N19.5bn Agri-support Project
Business

NADF Unveils Digital Tool To Track N19.5bn Agri-support Project

2025/07/04
Business

FG Begins Vehicle Recycling Enforcement October, Eyes N60bn Annually

2025/07/04
Zenith Bank Emerges Most Sustainable Bank
Business

Zenith Bank Ranked Nigeria’s Top Tier 1 Bank

2025/07/04
GTCO, 7 Others Post N1.3trn Pre-tax Profit In Q1
Business

GTCO Raises $105m In Share Sale, To List On London Exchange

2025/07/04
Leadership Conference advertisement

LATEST

IAWPA Congratulates Americans On Independence Day

Release NDDC Forensic Audit Report Or I Resign As FCT Minister, Wike Tells Federal Gov’t

Tinubu Leaves Saint Lucia, Heads To Brazil For BRICS Summit

Natasha: Judiciary Is Last Hope Of The Oppressed, Says Action Collective

Gov Yusuf Appoints Ahmed Musa As General Manager Of Kano Pillars

‘Amaechi Has Spiritual Problem, I Risked My Life To Make Him Gov’, Wike Alleges

Amaechi’s Wife Got N48bn Contract From NDDC — Wike

Cultism: Police Arrest Suspected Killer Of Vigilantes, 15 Others In Edo

Kano Gov Makes Fresh Appointments 

UEFA Slams Fines On Chelsea, Aston Villa, Barca, Others For Breach Of FFP

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.