The retail and wholesale trade sector will drive business expansion in August, according to expectations from firms.
The statistics department of the Central Bank of Nigeria disclosed this in its business expectation survey report. The survey was conducted in July.
“Construction sector had an index of 45.0 points; agric/services sector had an index of 43.4 and manufacturing sector had 39.7 points.” However, it added, respondents were optimistic in their outlook for August with a confidence index of 33.7. Respondent firms’ opinions on the volume of business activities indicated a favourable business outlook for August 2020.Respondents were also optimistic about the volume of business activity and employment outlook index in the next two and six months as all indexes were positive.
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