April 19, 2017

Nigeria's Economy Is Out Of Recession, Growing Strongly

The Nigerian economy is out of recession and growing strong, says United Kingdom-based World Economics. The body, dedicated to producing analysis, insight and data relating to questions of importance in understanding the world economy, said this development was reflected in the growth of its April Sales Managers’ Index, SMI, for Nigeria.

The growth rose to 58.5 per cent from 56.7 per cent in March. 

According to a report on its website, the organisation said: “April Sales Managers’ Index, SMI, data suggests that the Nigerian economy is continuing to grow out of the recession which saw 10 months of consecutive contraction in 2016. 

“The Market Growth Index grew to 58.5 in April as the monthly Sales Growth Index ticked up to 56.7, its highest value since 2015 and representative of rapid growth. Price inflation for April, which is tracked by the Prices Charged Index, remained high at 58.7 – indicative of high levels of inflation. A slowing trend has, however, developed for the past nine months.”

#NaijaGoBetter

18 comments:

Anurika Onwu said...

Does the so-called United Kingdom-based World Economics know how much a bag of rice cost in Nigeria. How did they get to the conclusion that Nigeria is out of recession

Anurika Onwu said...

Does the so-called United Kingdom-based World Economics know how much a bag of rice cost in Nigeria. How did they get to the conclusion that Nigeria is out of recession

godwin progragrammer said...

issokay!

Sunshow said...

Great news

Austine Gabriel said...

Good one

Nasiru Adoke said...

goodnews..thank God

Sunshow said...

No. Evidence

okorochas justin said...

I hope so o...

Rasheed Lawal said...

typical lie and pant of Gari is sold for #900 in ibafo ogun state

Ay360 said...

Iv nt stil seen d reduction of food items

Oladimeji Seun said...

With things wey dey cost for town, una no serious at all.

Hassan Aderemi said...

Their opinion but it's not true.

inumidun said...

4 dere mind! Dey deceiving demselves nt us..

Queen Abiodun Ogunnika said...

What ever

DIAMOND EXTRA said...

WE ARE WATCHING

I. C Bruno said...

That is a guess work, to be candid Nigeria are not yet out of recession. They are wrestling with recession and depression.

abdulrasaq abdulrafii said...

For their white mind smh.

Anslem Caesar said...

When a cup of garri is approximately 100 naira? I think they took too much alomo bitters when conducting their research.

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