The Central Bank of Nigeria said the country’ s manufactur­ing sector grew at a slower rate in May. According to the May edition of the CBN’s Purchasing Managers’ Index report, the manufactur­ing sector has been increasing for 14 consecutiv­e months. “The Manufactur­ing PMI in May stood at 56.5 index points, indicating expansion in the manufactur­ing sector for the 14 th consecutiv­e month. The index, however, grew at as lower rate when compared to the index in the previous month ,” it said. The report showed that the Manufactur­ing PM I stood at 56.9 index points in April. The CBN said the PMI survey, which was conducted by its statistics department, had respondent­s from the purchasing and supply executives of manufactur­ing and non-manufactur­ing organisati­ons in 31 locations in Nigeria.

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