Economy exits contraction but households remain pessimistic — CBN

Nigeria's Purchasing Managers' Index (PMI) rose to 50.1 points in June 2026 from 49.6 in May, exiting contraction due to sustained expansion in the agriculture sector, which grew for the 23rd consecutive month. However, the industry and services sectors remained in contraction, with PMIs of 49.5 and 49.4 respectively. Meanwhile, the Household Expectations Survey showed Nigerians remain pessimistic about current economic conditions, and business confidence fell for the fourth straight month.