20170419

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:

  1. 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

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  2. 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

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

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  4. Iv nt stil seen d reduction of food items

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  5. Oladimeji Seun19 April, 2017 15:18

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

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  6. Hassan Aderemi19 April, 2017 15:30

    Their opinion but it's not true.

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  7. 4 dere mind! Dey deceiving demselves nt us..

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

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  9. 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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