Stanbic IBTC PMI Drops to Seven-Month Low on Low Demand

The Stanbic IBTC Purchasing Managers Index (PMI) fell to its lowest in seven months due to low demand and high prices. The monthly PMI, released on Monday, showed a drop to 50.1 points in June from 52.1 in May, marking a seven-month low. Muyiwa Oni, Head of Equity Research West Africa at Stanbic IBTC Bank,…