[size=13pt]Nigerian Economy Slips into Recession[/size]


The Sales Managers Index: Nigeria
Released: May 17, 2016

Sales Managers’ Index suggests Nigerian GDP growth will be negative in Q2
Inflationary pressures remain substantial and rising
Job levels decline for 3rd successive month reflecting falling economic activity

The World Economics SMI reports that the Nigerian economy continued to contract in May with Q2 ushering in the first quarter of negative growth since Q1 2015. Product sales and employment levels declined again during May while market growth reached the lowest level since records began. At the same time, prices continued to rise sharply indicting year-on-year inflation will likely fall back a little from the official figure of 13.7% reported for March. Overall, the latest SMI data suggests that growth is likely to weaken further by the end of the second quarter and the weakness will continue into the summer.



Headline Sales Managers' Index

Sales Managers' Index Trends
Speed Direction
SMI Strong Increasing
Business Confidence Very fast Increasing
Market Growth Slow Declining
Sales Output Faster Declining
Prices Charged Fast Increasing
Staffing Levels Faster Declining

The Sales Managers Index provides the only monthly data on the speed and direction of Nigerian economic activity.

Key advantages of the Nigeria SMI:
The SMI provides the first indication each month of the speed and direction of economic growth in Nigeria .
The SMI provides the most complete indication of growth, covering all private sector activity.
The SMI is based on a key occupational group - uniquely able to sense changes in business activity levels.
The SMI is composite index of business confidence, market growth, sales, prices charged and staffing levels.
The SMI is a diffusion index, any index value above 50 indicates growth and below 50 indicates contraction.

http://www.worldeconomics.com/SMI/Nigeria-SalesManagersIndex.efp

dukie25:
We warned them a cow herder have no business running a modern economy but they didn't believe us.
Enjoy your recession courtesy of Certificateless Bubu with f9 in econs

Keneking:
Nonsense report

dukie25:

You should win the title of the most senseless poster this year, can't see anyone remotely close to your level of zombieism. Congrats in advance.
And please don't forget to post pictures of baboons.
Primates the world over hold you in high esteem.

Mynd44:


The World Economics SMI reports that the Nigerian economy continued to contract in May with Q2 ushering in the first quarter of negative growth since Q1 2015

Seems your Phd hero also plunged the country into negative quarterly growth.

Shucks dont it?

ALMUSTAQIM:
NONSENSICAL REPORT

BIAFRA REPORT

IPOBIC REPORT

AVENGERS REPORT

dukie25:

The once buoyant Nigerian economy was not in recession last year, Ogbeni Mynd stop propaganda.

Pidggin:
Recession? See why tribalism is evil? We have intellectuals who can lead us better, but because they are not from a certain tribe, people won't vote. Enjoy

machinery1:


Why is it always hard for you to make sense, you pray and wish evil for this country daily but still turn around to blame the President. Na wai

dukie25:
We warned them a cow herder have no business running a modern economy but they didn't believe us.
Enjoy your recession courtesy of Certificateless Bubu with f9 in econs

dukie25:
We warned them a cow herder have no business running a modern economy but they didn't believe us.
Enjoy your recession courtesy of Certificateless Bubu with f9 in econs

DropShot:

[s]Anyone with half functioning brain understands that PMB inherited a badly damaged economy.

An economy that was borrowing to pay salaries as far back as March 2015.

An economy that the Finance minister predicted doom for when she said Nigerians should brace for tough times ahead.

An economy that was badly and shamelessly looted by those you supported.

The condition of Nigerian economy today is a result of bad decisions of at least 3 to 5 years back.

Leave insults and name-calling out of it, let anyone who feels differently come on board for a robust discussion[/s].

Adminisher:


Actually it was the drunkard we had before that wrecked it. He stole and spent money on the wrong things. We had high GDP selling imported good. The stupidest modern country in the world. They imported rice for elections even, the brain dead Shoeless children of idiots, they killed their refineries and imported petrol .

globe16:

mention one positive econmoic policy of the dullard from daura since becoming president? Even if I agree with your assertion, let me remind you that someone took over from Abacha and it wasnt this bad.. Where is the 2016 budget? Buhari, the clueless dullard from daura has successfully destroyed Nigeria in one year. Fact

globe16:

The same Nigerian economy that was doing well and rated the biggest in Africa? Mention any positive economic policy this daura president has taken since becoming president.. Someone that doesnt even have an economic adviser? Buhari has done more harm to Nigerian economy in one year than the past 16 years of PDP government

DropShot:

I can bet you're not older than 25. You lack adequate understanding of how an economy works.

Counter the facts I provided or stfu.

globe16:

Even Buhari that is older than 75 is a stark economic illiterate according to obasanjo, just tell me any one positive economic policy of this confused government since assuming power or give it up

DropShot:

You need to confirm you're older than twenty before I can lecture you further.

globe16:

Why not face the topic and stop diverting attention. tell us the one positive economic policy of this clueless and confused adminitration

DropShot:

[s]Toddler, deregulation of downstream sector.

Diversification of the economy away from oil dependent one.[/s]

That's two there.