The Central Bank of Nigeria (CBN) says the industry sector contracted in September, while the agriculture and services sectors expanded.
The Central Bank of Nigeria says the industry sector contracted in September, while the agriculture and services sectors expanded.he composite PMI — which is the combination of the sectors’ performance — for September 2024 stood at 50.5 index points, indicating expansion in economic activities for the second consecutive month, compared to 50.2 points in August.
According to the apex bank, an index above 50.0 points indicates an expansion in business activities, while below 50.0 points indicates a contraction in business activities.CBN said the industry sector contracted, closing September with 49.7 points, the figure represents an improvement compared to the level in August.
“Among the 17 subsectors surveyed, four recorded contractions, three remained unchanged, while the remaining 10 indicated expansion. The subsector with the highest contraction was Paper Product, whereas Cement recorded the highest expansion.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MPC meeting, FG's $1.5bn World Bank loan... business stories to track this weekHere are the seven top business stories you need to track this week — September 23 to September 27.CBN TO HOLD MPC MEETING
Read more »
CBN: Majority of Nigerians expect interest rates to rise in next three monthsThe Central Bank of Nigeria (CBN) says the majority of Nigerians expect interest rates to rise in the next three months.
Read more »
CBN directs payment service providers to route all PoS transactions through authorised PTSAThe Central Bank of Nigeria has mandated all Payment Service Providers to route all transactions from point-of-sale terminals at merchant and agent locations, physical or electronic through an authorized Payment Terminal Service Aggregator.
Read more »
CBN directs PSPs to route POS transactions through NIBSS, UPSL within 30 daysCBN has directed payment service providers (PSPs) to route all transactions from POS terminals at merchant and agent locations through its licenced payment terminal service aggregators (PTSAs).
Read more »
BREAKING: CBN issues new directive to Payment Service Providers on PoS transactionsA Trusted Nigerian Newspaper
Read more »
CBN: FX rates, transport fares will drive inflation in next six monthsCBN says inflation will be driven by changes in energy prices, exchange rates, and transportation costs, over the next six months.
Read more »