Business activities in Nigeria have dropped to a seven-month low of 50.1 points in June, from 52.1 recorded in May, due to moderation in domestic demand amid the intensification of price pressures. All these have led to slowdowns in growth of output and new orders, a new Purchasing Managers’ Index (PMI) report has revealed. The latest monthly PMI by Stanbic IBTC Bank released yesterday, showed a significant decrease from the previous month with inflationary pressures picking up and purchase prices, staff costs and selling charges all increasing more quickly than in May. In turn, employment rose only fractionally. The PMI

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