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Nigeria: Consumers Unlikely to Buy Expensive Items in Next 12 Months - CBN

Nigeria: Consumers Unlikely to Buy Expensive Items in Next 12 Months - CBN
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Nigerians will shun luxury items in 2021, here's why [ARTICLE]

The Central Bank Of Nigeria (CBN) made this known in its Consumer Expectations Survey (CES) Report for December 2020, released by the Statistics Department of the apex bank on Tuesday in Abuja.
According to the report, most consumers believed that the next one year would not be ideal for the purchase of high-costing items like vehicles and houses.
CBN said that most respondents to the survey expected the naira to appreciate, while inflation rate would rise and increase in borrowing rate in the next 12 months.
According to the report, the overall buying intention index in the next 12 months stood at 29.9 index points, indicating that most consumers do not intend to buy big-ticket items in the next 12 months. ....

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Home property prices declined in Q3 – BSP – Manila Bulletin

Published December 24, 2020, 6:00 AM
For the first time in the reporting of the Bangko Sentral ng Pilipinas’ (BSP) Residential Real Estate Price Index (RREPI), residential property prices fell in the third quarter by 0.4 percent year-on-year due to weak demand brought on by the COVID-19 pandemic.
On a quarter-on-quarter basis, RREPI declined more significantly or by 14.1 percent. The decline in the prices of condominium pulled both periods’ RREPI.
This is the first time since the RREPI was introduced in 2016 that it had a negative year-on-year growth. “The decline in the RREPI may be partly due to the weak consumer demand for houses and lots,” said the BSP. “This is consistent with the outcome of the third quarter Consumer Expectations Survey, which pointed to the low preference of consumers to buy real estate property amid the pandemic and economic uncertainty.” ....

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Consumers 'll shun luxury items in next few months, says CBN -

CBN
Most Nigerian consumers are not likely to purchase expensive or luxury items in the next 12 months.
The Central Bank Of Nigeria
(CBN) made this known in its Consumer Expectations Survey (CES) Report for December 2020, released by the Statistics Department of the apex bank on Tuesday in Abuja.
According to the report, most consumers believed that the next one year would not be ideal for the purchase of high-costing items like vehicles and houses.
CBN said that most respondents to the survey expected the naira to appreciate, while inflation rate would rise and increase in borrowing rate in the next 12 months. ....

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CBN: Consumers will boycott luxury items in the next 12 months

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