December 30, 2019/CBN
The highlights of the outcome of the Business Expectations Survey in December 2019 are as follows:
• Respondent firms expressed optimism on the macro economy.
• Respondents’ outlook on the volume of total order, business activity and financial conditions (working capital) were positive during the review period.
• Firms identified insufficient power supply, high interest rate, financial problems, unfavourable economic climate, unclear economic laws and unfavourable political climate as major factors constraining business activity.
• Respondent firms expect the Naira to appreciate in the current month, next month and next twelve months. Level of inflation is expected to increase slightly in both the next six months and the next twelve months; borrowing rate is expected to rise in the current month, next month and the next twelve months.