CBN: Service industry expanded, industrial sector contracted in September

The Central Bank of Nigeria says the industry sector contracted in September, while the agriculture and service 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.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CBN: Services industry expanded, industrial sector contracted in SeptemberThe Central Bank of Nigeria (CBN) says the industry sector contracted in September, while the agriculture and services sectors expanded.
Source: thecableng - 🏆 2. / 80 Read more »

Business leaders to discuss Nigeria’s service sector challenges at 2024 EAH Service Excellence Confe ...With limited exposure to global standards, subpar customer service culture and inadequate regulatory support, the 2024 EAH Service Excellence Conference seeks to provide actionable insights to tackle pressing challenges faced by Nigeria's service sector, and drive improvement across industries.
Source: DailyPostNGR - 🏆 11. / 59 Read more »