Nigeria: Business sentiment drops to four-month low in January
February 6, 2017
In January, the Standard Chartered-MNI Business Sentiment indicator (BSI) dropped from December’s 58.9 to 54.7. January’s print reflects a drop in production, new orders, supplier delivery times and order backlogs. Employment was the only sub-component of the headline indicator that rose in the surveyed month, albeit at a marginal rate.
January’s print reflected a deterioration in 10 out of the 15 current conditions indicators and a fall in 6 of the 15 future expectations indicators. Future expectations improved considerably from last month’s survey when respondents expected a deterioration in 12 of the 15 categories.
Analyzing the future expectations result, Standard Chartered analysts noted that, “The increased optimism was also captured by the overall business conditions future expectations indicator which reached its highest level since July 2016.”