Monday, 27 August 2018


The initial reaction to the Nigeria GDP release appears to be one of mixed performance.

While the headline might be that growth slowed on a quarterly basis from 1.95% to 1.50% in Q2, the economy expanded on an annualized basis with growth close to 0.8%. This is a positive result.

The trend of slowing headline growth in emerging markets is something that is beginning to become more consistent in the financial news headlines. Away from Africa, Singapore, Malaysia and Indonesia have followed the same trend with recent GDP results while there are concerns that the Chinese economy could also be slowing.

Emerging markets, in general, remain caught up in a multitude of different external headwinds, including higher US interest rates, prolonged volatility when it comes to the price of Oil and ongoing trade war concerns that represents a serious obstacle to emerging markets that rely heavily on global trade.

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