{"id":7682,"date":"2018-01-04T04:36:49","date_gmt":"2018-01-04T04:36:49","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/nigerias-economic-expansion-persist-rapidly-in-december-cbn\/"},"modified":"2018-01-04T04:36:49","modified_gmt":"2018-01-04T04:36:49","slug":"nigerias-economic-expansion-persist-rapidly-in-december-cbn","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/nigerias-economic-expansion-persist-rapidly-in-december-cbn\/","title":{"rendered":"Nigeria\u2019s economic expansion persist  rapidly in December \u2014 CBN"},"content":{"rendered":"<p>\n<\/p>\n<div itemprop=\"description\" readability=\"80\">\n<p>By Babajide Komolafe &amp; Elizebeth Adegbesan<\/p>\n<p>The Central Bank of Nigeria, CBN yesterday released its Purchasing Managers Index (PMI) survey for December which indicated continuous rapid expansion of economic activities during the month.<\/p>\n<p><!-- between content ad --><\/p>\n<figure id=\"attachment_501564\" style=\"width: 412px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2015\/03\/emefiele-CBN.jpg?resize=412%2C250&#038;ssl=1\" data-lazy-src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif?ssl=1\" class=\"size-full wp-image-501564\" alt=\"\" width=\"412\" height=\"250\" srcset=\"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2015\/03\/emefiele-CBN.jpg 412w, https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2015\/03\/emefiele-CBN-300x182.jpg 300w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><noscript><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-501564\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2015\/03\/emefiele-CBN.jpg?resize=412%2C250&#038;ssl=1\" alt=\"\" width=\"412\" height=\"250\" srcset=\"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2015\/03\/emefiele-CBN.jpg 412w, https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2015\/03\/emefiele-CBN-300x182.jpg 300w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><\/noscript><figcaption class=\"wp-caption-text\">CBN Governor, Mr Godwin Emefiele<\/figcaption><\/figure>\n<p>The report showed that the Manufacturing PMI and Non-Manufacturing PMI rose to the highest level in more than three years.\u00a0 While the Manufacturing PMI rose to 59.3 percent and the Non-Manufacturing PMI rose to 62.1 percent during the month.<\/p>\n<p>The report also showed that 30 out of the 34 subsectors surveyed by the apex bank recorded expansion, up from 27 subsectors that recorded expansion in November.<\/p>\n<p>The Manufacturing and Non-Manufacturing PMI report on businesses is based on survey responses indicating the changes in the level of business activities in the current month compared with the preceding month. A composite PMI above 50 points indicates that the manufacturing\/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally contracting.<\/p>\n<p>The December PMI report stated: \u201cThe Manufacturing PMI in the month of December stood at 59.3 per cent index points indicating expansion in the manufacturing sector for the ninth consecutive months.<\/p>\n<p>Fifteen of the 16 subsectors reported growth in the review month in the following order: petroleum &amp; coal products; printing &amp; related support activities; computer &amp; electronic products; textile, apparel, leather and footwear; cement: transportation equipment; paper products; food, beverages &amp; tobacco products; <a href=\"https:\/\/amazingproperty.com.ng\/blog\/best-furniture-pieces-for-your-home-and-office\/\">furniture<\/a> and related products; plastics and rubber products; non-metallic mineral products; printing and related support activities; appliances and components; chemical &amp; pharmaceutical products; fabricated metal products; primary metal and electrical equipment sector. The computer &amp; electronic product sector contracted in the review month.\u201d<\/p>\n<p>The report further stated: \u201cThe composite PMI for the non-manufacturing sector stood at 62.1 points in December 2017, indicating growth in the Non-manufacturing PMI for the eighth consecutive month.<\/p>\n<p>Fifteen of the 18 non-manufacturing sectors recorded growth in the following order: arts, entertainment and recreation; agriculture; transportation and warehousing; utilities; water supply, sewage and waste management; finance and insurance; health care and social assistance; <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">real estate<\/a> rental and leasing; wholesale trade; accommodation\u00a0 and food services; electricity, gas, steam\u00a0 and <a href=\"https:\/\/amazingproperty.com.ng\/blog\/us-air-conditioning-repair-for-a-comfortable-home\/\">air conditioning<\/a> supply; educational services; construction; information\u00a0 and communication and professional, scientific,\u00a0 and technical services. The management of companies remained unchanged, while the public administration and repair, maintenance\/washing of motor vehicles\u2026 subsectors recorded contraction in the review period\u201d<\/p>\n<\/p><\/div>\n<p><a hre=\"https:\/\/www.vanguardngr.com\/2018\/01\/nigerias-economic-expansion-persist-rapidly-december-cbn\/\"> Vanguard <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Babajide Komolafe &amp; Elizebeth Adegbesan The Central Bank of Nigeria, CBN yesterday released its Purchasing &hellip; <a title=\"Nigeria\u2019s economic expansion persist  rapidly in December \u2014 CBN\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/nigerias-economic-expansion-persist-rapidly-in-december-cbn\/\"><span class=\"screen-reader-text\">Nigeria\u2019s economic expansion persist  rapidly in December \u2014 CBN<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7683,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4],"tags":[2890,4784,344,698,522,84,678],"class_list":["post-7682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-construction","tag-furniture","tag-housing","tag-insurance","tag-nigeria","tag-real-estate","tag-rental"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/emefiele-CBN.jpg?fit=412%2C250&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=7682"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/7683"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=7682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=7682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=7682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}