Production, employment’s growth slow in January –CBN

Production level, new orders, supplier delivery time, employment level and raw materials inventories grew at a slower rate in January 2020.

The Central bank of Nigeria disclosed in its Purchasing Managers’ Index survey report for January 2020.

Others were chemical & pharmaceutical products; fabricated metal products; textile, apparel, leather & footwear and cement. At 59.6 points, the production level index for manufacturing sector showed growth for the 35th consecutive month in January 2020, the CBN report stated. Nine of the 14 manufacturing subsectors recorded increased production level, three remained unchanged while two recorded decline.

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