Indicators
Nigeria Business Mood Stays Upbeat for Longest Run Since 2022
Pedestrians walk between office buildings in the Central Business District of Lagos, Nigeria.
Photographer: Benson Ibeabuchi/BloombergPrivate sector sentiment in Nigeria improved for a ninth consecutive month, the longest stretch since at least 2022, as a slowdown in inflation drove demand for goods and services.
The purchasing-manager index compiled by Stanbic IBTC Bank and S&P Global rose to 54.2 points in August from 54 a month earlier. Readings above 50 signal an improvement in business conditions, while those below indicate a deterioration.