May 31, 2019/Cowry Asset Report
In the local economy, the May 2019 Business Expectations Survey (BES), conducted by Central Bank of Nigeria’s (CBN) staff from May 6-10, 2019 on a sample of 1,050 businesses nationwide, revealed that respondents expressed optimism on the macroeconomy for the month of May 2019 as the overall confidence index (CI) registered 29.7 index points (better than 29.2 registered in April). Business outlook for June 2019 showed even greater confidence on the macro economy with 62.7 index points. This was the case, particularly for the construction, wholesale & retail trade and industrial sectors.
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