Economy
Nigerian Economy Now Out Of Recession And Growing Strongly – World Economics
This might be coming as massive news to President Muhammadu Buhari as the local economy has reportedly strolled out of recession. The Nigerian economy is out of recession and growing strong, says United Kingdom-based World Economics.The organisation, which is 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, which 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.”
Follow us on social media:-
Celebrity Gossip & Gist2 days ago
“He’s a sure giver” – Davido warms hearts as he gifts female fan N58m ($50k) to clear off her student loan
-
News2 days ago
Tunde Onakoya beats US national chess master as he attempts to break Guinness World Record
-
Love & Relationship15 hours ago
I’m a Muslim and a Christian Guy Wants to Marry me, But There is a Problem
-
Celebrity Gossip & Gist2 days ago
Portable blows hot as Verydarkman urges him to check paternity of his kids