A Central Bank of Nigeria, CBN, survey report has shown that businesses and consumers’ confidence in the country’s economy will rise this month.
The apex bank’s Business Expectation Survey, BES, report shows that in
May, firms’ confidence in the macro economy stood at twenty-seven-point-three index points and is expected to rise by thirty-five-point-nine basis points to sixty-three-point-two index
points this month.
It stated that at twenty-seven-point-three index points, respondents expressed optimism on the overall confidence index on the macro economy in the month of June 2019 while the business outlook for July 2019 showed greater confidence on the macro economy with sixty-three-point-two index points.
In its Consumer Expectation Survey report for the second quarter of
2019, the CBN noted that consumers also expect a positive outlook for the economy courtesy of increase in net household income, improvement in Nigeria’s economic conditions and expectations to save in the next twelve months.
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