Indicators
Resurgent Services Sector Propels Nigeria’s Economic Growth
- GDP grew 3.46% in the third quarter; median est was 2.86%
- More than half of aggregate GDP came from services sector
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Nigeria’s economy grew more than anticipated in the third quarter, buoyed by its services sector that expanded at its fastest pace in almost two years.
Gross domestic product expanded an annual 3.46% in the three months through September, compared with growth of 3.19% in the previous quarter, according to data released by the Abuja-based National Bureau of Statistics on Monday. The median estimate of six economists in a Bloomberg survey was 2.86%.