Firms Confidence In Economy Falls 3.2 Index Points Cbn

Expect further Naira depreciation

By Babajide Komolafe Elizabeth Adegbesan

Businesses have expressedless confidence in the economy with the Overall Confidence Index as the next three months fell by 3.2 index points to 14.5 from 17.7 index points.

This was the highlight of the Business Expectation Survey, BES of the Central Bank of Nigeria, CBN, for October which also showed decline in the Overall Confidence Index, OCI, for the current month, next month and the next six months.

According to the CBN the OCI for the current month, next month and the next six months fell to 1.4, 4.8, and 21.8 index points in the October BES from 3.2, 6.2 and 29 index points in the September BES.