Research Document: NESG- Stanbic IBTC Business Confidence Monitor October 2024


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Posted Fri, Nov 8, 2024 2:06 PM

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In October 2024, business performance across most sectors in Nigeria remained weak. The NESG-Stanbic IBTC Business Confidence Monitor's (NESG-Stanbic IBTC BCM) Current Business Index recorded a net
balance of -23.24, reflecting the overall economic inertia dominating the month. Sub-sectoral analysis revealed a broadly negative business sentiment, with significant declines in Agriculture (-30.47), Manufacturing (-28.72), Non-manufacturing (-28.16), and Trade (-23.45). The Services sector also faced a mildly negative business condition, marked by a net balance of -6.19.

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