Economic Brief: Nigerian economy technically out of recession

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After an agonizing and a most tortuous 15 months of economic recession, the Nigerian economy is finally breathing the air of freedom as the recent data from the National Bureau of Statistics (NBS) indicated…
The GDP compares to Q2 2016 and Q1 2017 figures showed a stronger growth of 2.04% and 1.46% respectively. On a quarter-on-quarter basis, the GDP in real terms grew by 3.23%…
The Nigeria economy is classified into two distinct sectors. The Oil and Non-oil sectors. The oil sector was a major catalyst for the growth recorded in the period under review…
The Non-oil sector grew by 0.45% in real terms, and 0.83% points higher than the rate recorded in corresponding Q2 ’16 and 0.28% points less than Q1 ’17 figure…
Precursors to current economy recovery:
PMI consistently upward for 5-month:

The Central Bank of Nigeria (CBN) recent data on Purchasing Manager’s Index (PMI), shows positive activities currently prevailing in the manufacturing sector of the economy…

Kindly click here to download the full GDP Q2 2017 report.

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