Nigeria, Jan. 25 -- The Purchasing Managers' Index (PMI) for Nigeria rebounded in December 2024, indicating a return to economic expansion after two consecutive months of contraction, according to a survey released by the Central Bank of Nigeria (CBN).

The composite PMI, which tracks activity across manufacturing, services, and agriculture, rose to 51.0 in December, surpassing the 50-point threshold that separates expansion from contraction.

This followed readings of 49.0 in November and 48.0 in October.

The services sector was the primary driver of growth, with the sector PMI rising to 52.1 in December. The agriculture sector also expanded, with a PMI of 52.7. However, the manufacturing sector remained stagnant, with a PMI of 50.0.

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