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CBN reports Q4 negative consumer expectations
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ECONOMY
The Central Bank of Nigeria (CBN) has reported a negative consumer expectations in its fourth quarter 2020 Consumer Expectations Survey (CES). The survey report stated: “Consumers’ overall outlook was negative in the current quarter, as consumers were pessimistic in their outlook. However, consumers have a positive outlook for the next quarter and the next 12 months.
“Majority of consumers believe that the next 12 months would not be an ideal time to purchase big-ticket items like motor vehicles and house & lot.
“Most respondents expected the naira to appreciate, inflation rate to rise and borrowing rate to rise in the next 12 months.”