Tuesday, October 24, 2017 3:25:09 AM- Nigerian Stock Exchange.



  Q2’17 GDP: Nigeria Creeps out of Recession

      

Sep 5 (Lagos) - Second quarter Gross Domestic Product (GDP) data from the National Bureau of Statistics (NBS) registers Nigeria’s GDP growth at 0.5% y/y for the period, significantly behind Vetiva and Consensus estimates of 1.9% and 1.3% respectively.



Following up from a downwardly revised contraction of 0.9% y/y in Q1’17 (Previous: -0.5%), Q2’17 growth is the first growth recorded post 2015 and marks the end of Nigeria’s five quarters of contraction. 



The improved performance comes on the back of a minor recovery in oil production, as well as sustained growth in agricultural and industrial output over the period. Meanwhile, the Nigerian economy expanded 14.6% y/y in nominal terms, primarily due to high inflation (GDP deflator up 13.6% y/y), but also aided by the marginal increase in real output in Q2’17.





reporting for easykobo.com on Tuesday, Sep 5 2017 from Lagos, Nigeria



Source - National Bureau of Statistics



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