Worldeconomics . com , a renowned organization in the UK dedicated to producing financial analysis of the world economy , has declared that Nigeria ’s economy is out of recession .
The declaration was made known in a series of tweet which reads ; “ Nigeria economy is now out of recession and growing strongly in April . ” adding that “ The rate of price inflation remains substantial but continues to moderate in April .
The organisation equally opines that “ Monthly sales continue to pick up sharply in April.”
See some tweets:
Further findings via their website stated that 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 reports on their 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 . ”
Nigerian Economy Now Out Of Recession And Growing Strongly — World Economics
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Oleh
Peter Ebuka
