{"id":44174,"date":"2020-10-27T20:08:30","date_gmt":"2020-10-27T19:08:30","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=44174"},"modified":"2020-10-27T20:08:34","modified_gmt":"2020-10-27T19:08:34","slug":"manufacturing-sector-hits-sixth-month-contraction-cbn","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/","title":{"rendered":"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN"},"content":{"rendered":"<p>The Purchasing Managers Index for the manufacturing sector which started contracting in May recorded another contraction in October according to the Central Bank of Nigeria.<\/p>\n<p>The statistics department of the CBN disclosed in its \u2018Purchasing Managers\u2019 Index survey report for October, that this contraction hit the sixth month.<\/p>\n<p>Part of the report read, \u201cThe manufacturing PMI in the month of October stood at 49.4 index points, indicating slowing contraction in the manufacturing sector compared with the last five months.<\/p>\n<p>\u201cOf the 14 subsectors surveyed, six subsectors reported expansion (above 50 per cent threshold) in the review month in the following order: electrical equipment, transportation equipment, printing &amp; related support activities, chemical &amp; pharmaceutical products, textile, apparel, leather &amp; footwear and cement.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>\u201cThe remaining eight subsectors reported contractions in the following order: Primary metal, petroleum &amp; coal products, paper products, fabricated metal products, furniture &amp; related products, nonmetallic mineral products, plastics &amp; rubber products and food, beverage &amp; tobacco products.\u201d<\/p>\n<p>At 50.0 points, the production level index in October 2020 for the manufacturing sector indicated halting in contraction which commenced since May 2020.<\/p>\n<p>Of the 14 subsectors surveyed, seven subsectors recorded expansion in production level, one subsector maintained current level, while six subsectors recorded declines in production in October 2020.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Purchasing Managers Index for the manufacturing sector which started contracting in May recorded another contraction in October according to the Central Bank of Nigeria.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":44176,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[],"coauthors":[2391],"class_list":["post-44174","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Purchasing Managers Index for the manufacturing sector which started contracting in May recorded another contraction in October according to the Central Bank of Nigeria.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-27T19:08:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-27T19:08:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/10\/download-3.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"299\" \/>\n\t<meta property=\"og:image:height\" content=\"168\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/10\/download-3.jpeg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/10\/download-3.jpeg\",\"width\":299,\"height\":168},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/\",\"name\":\"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#primaryimage\"},\"datePublished\":\"2020-10-27T19:08:30+00:00\",\"dateModified\":\"2020-10-27T19:08:34+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/","og_locale":"en_US","og_type":"article","og_title":"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN - National Wire","og_description":"The Purchasing Managers Index for the manufacturing sector which started contracting in May recorded another contraction in October according to the Central Bank of Nigeria.","og_url":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/","og_site_name":"National Wire","article_published_time":"2020-10-27T19:08:30+00:00","article_modified_time":"2020-10-27T19:08:34+00:00","og_image":[{"width":299,"height":168,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/10\/download-3.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/10\/download-3.jpeg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/10\/download-3.jpeg","width":299,"height":168},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/","name":"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#primaryimage"},"datePublished":"2020-10-27T19:08:30+00:00","dateModified":"2020-10-27T19:08:34+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/manufacturing-sector-hits-sixth-month-contraction-cbn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"Manufacturing Sector Hits Sixth-Month Contraction \u2014 CBN"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/44174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=44174"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/44174\/revisions"}],"predecessor-version":[{"id":44177,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/44174\/revisions\/44177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/44176"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=44174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=44174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=44174"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=44174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}