Rising Input Costs Dip Business Performance In October

The Nigeria’s Purchasing Managers’ Index report by Stanbic IBTC Bank said: ‘sharply rising prices also discouraged firms from purchasing inputs and caused delays in the completion of orders. On a more positive note, employment continued to rise amid company expansion plans.’

The report noted that, central to the challenges for firms in October was the sharpest rise in overall input prices since the survey began almost a decade ago. “New business decreased at a solid pace, thereby ending a six-month sequence of growth for the second time in the past three months and to the largest extent since the cash crisis earlier in the year. Lower new orders and high prices for inputs led companies to reduce their purchasing activity for the first time in seven months.”

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Corporate Earnings Triggers N1.708trn Equities Investments Gain In OctoberThe Nigerian equities market gained N1.708 trillion in the month of October 2023 as investors reacted to better-than expected corporate results released on
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Improved corporate earnings lift equities trading as investors gain N1.7tr in OctoberImproved corporate performance has continued to buoy transactions on the equities sector of the Nigerian Exchange Limited (NGX) as investors gained N1.708 trillion in the month of October 2023.
Source: GuardianNigeria - 🏆 1. / 94 Read more »