NBS

China's Services Sector Growth Stumbles Despite Holiday Spending Surge

2 months ago

In a surprising turn of events, China's services sector has reported a slowdown in growth, contradicting expectations of a robust performance bolstered by the recent Lunar New Year holiday. Data released by the National Bureau of Statistics (NBS) reveals that the Services Purchasing Managers' Index (PMI) dipped to 51.5 in January, a decline from December's 52.2. A reading above 50 indicates expansion, yet this latest figure has raised concerns about the sustainability of China's economic rebound.

Nigeria's Economic Growth Surprises Analysts with Strong Performance in the Services Sector

4 months ago

In an unexpected turn of events, Nigeria has reported significant economic growth that has outperformed analysts' predictions, largely driven by the robust performance of the country's services sector. The latest data revealed that Nigeria’s Gross Domestic Product (GDP) grew by 3.25% in the third quarter of 2024, a figure that contrasts sharply with predictions that suggested a modest slowdown due to other challenging economic conditions.

Nigeria's Inflation Rate Sees an Upsurge After a Period of Decline

6 months ago

Nigeria has witnessed a sudden shift in its inflation landscape, as the inflation rate surged for the first time in three months, signaling a reversal of the downward trend that had provided some relief to consumers and policymakers alike. According to the latest reports released by the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), which measures the average change over time in the prices paid by consumers for goods and services, climbed to 19.6% in September 2024.