Business Activity Grows for Fourth Month as Household Confidence Falls

• • 1 min read
Business Activity Grows for Fourth Month as Household Confidence Falls

ABUJA — Nigeria's business activity expanded for the fourth month in a row in September, with the Central Bank of Nigeria's composite Purchasing Managers' Index rising to 53.0 from 52.7, according to a survey of 1,900 executives. Twenty-three of 32 sub-sectors grew. Industry stood at 52.0, services at 53.2 and agriculture at 53.1. However, the CBN's household survey showed consumer sentiment falling to -18.7 from -9.9, while expectations of higher prices rose. Most respondents said they wanted lower lending rates.

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