There are indications that the declining trend in nation’s economic health is on the recovery path going by current indices from the National Bureau of Statitistics, NBS, which show a marginal increase in Gross Domestic Product, GDP, in the third quarter (Q3) 2015 against what was recorded in the second and first quarter (Q2 and Q1) 2015.

In the Q3, 2015 report released, yesterday, by NBS, Nigeria’s GDP grew by 2.84 per cent year-on-year (y-o-y) in real terms as against 2.57 per cent growth recorded in the preceding quarter, though lower by 3.38 percentage points from growth recorded in the corresponding quarter of 2014. The GDP rate was 3.86 per cent in the first quarter of this year.

Two days earlier, NBS had reported that the nation’s inflation rate has lowered to 9.3 per cent in October 2015, from 9.4 per cent in the preceding month.

Both inflation and GDP, the two key measures of economy’s health have been in the negative directions since this year due to massive decline in the nation’s oil revenue, the bottlenecks in the foreign exchange market as well as the relative inactivity in the public sector attributable to lack of full take-off and activity at the federal government level.

GDP is the monetary of all the finished goods and services produced within a country’s borders in a specific time period. In the Q3 2015 the GDP at current basic price was N24.313 trillion as against N22.859 trillion in Q2 2015 and N22.933 in Q3 2014.

On the other hand, inflation mirrors a sustained increase in the general level of prices for goods and services. The inflation rate was 9.3 per cent in October 2015, slightly down from 9.4 per cent recorded in September 2015.

The slight improvement in the GDP during Q3 may be attributed to equally slight improvement in the output of the oil industry as NBS report says that peliminary data on Oil production reflects output at 2.17 million barrels per day (mbpd) up from 2.0 mbpd in Q2.

Oil production was also marginally higher to the corresponding quarter in 2014 by 0.02 mbpd when output was recorded at 2.15 mbpd.

http://www.vanguardngr.com/2015/11/economic-indices-stabilize-as-gdp-inches-up/

Great

Good news

CircleOfWilis:
Good news

good news because youre ignorant.

The GDP rate was 3.86 per cent in the first quarter of this year.

[img]http://www.tradingeconomics.com/charts/og.png?url=/nigeria/gdp-growth-annual[/img]

End time GDP

The moment news like this have effect on yourlife, count yourself among the rich nigerians.Because all the things I bought in Q1 are still thesame price in Q3.
May God guide our leaders right and help the youth the truth to know.

End Time Things....

PMB is working, wailers are wailing

[size=20pt]Nigeria's economic growth slows to 2.84 pct in Q3 2015 -Reuters[/size]

Nov 17 Nigeria's economic growth slowed to 2.84 percent in the third quarter of 2015 from 6.23 percent a year earlier as a result of lower oil prices, the Nigerian Bureau of Statistics (NBS) said on Tuesday.

The NBS said oil production was 2.17 million barrels per day in the third quarter of the year, higher than 2.05 million barrels recorded in the second quarter. (Reporting by Chijioke Ohuocha Editing by Jeremy Gaunt)

Read more at Reuters
http://www.reuters.com/article/2015/11/17/nigeria-economy-gdp-idUSL9N0WZ01J20151117#PzdWRqSCwPDk1WG4.99


LOL so APC will spin an economic crash into 'inches up'

faray:
End time GDP

No he's not ignorant, check yourself.

There is nowhere in the world GDP growth and a fall in inflation is not good news and a sign of economic improvement.

If growth is not as rapid, is it not because your rotten GEJ looted our treasury instead of diversifying from oil?

Kudos President Buhari. May this trend continue to improve to the devastation of irrelevant wailers.

Ikengawo:

good news because youre ignorant.
[img]http://www.tradingeconomics.com/charts/og.png?url=/nigeria/gdp-growth-annual[/img]

OK good news, hope we do better in Q4

Ikengawo:
Nigeria's economic growth slows to 2.84 pct in Q3 2015 -Reuters

Read more at Reuters
http://www.reuters.com/article/2015/11/17/nigeria-economy-gdp-idUSL9N0WZ01J20151117#PzdWRqSCwPDk1WG4.99


LOL so APC will spin an economic crash into 'inches up'

Must be the result of a DULLARD illiterate working with LIARS and propagandists listened to by ZOMBIES.




www.nairaland.com/attachments/2837478_apczombie_jpeg18e83b86a22c6378b2e3f37984ea3432

What aspects of the economy gives that boost? When the country's FX earnings are falling owing to restricted access to FX? When the economy rather than creating jobs is laying off? When the manufacturing sector is finding bit difficult to import raw materials? When the price of oil is still poor? So many.

How long can lies travel? As PDP succinctly put, the time for campaigns are over, it is time for governance.

That calculation must be based on the number of cows recovered from rustlers by the Nigerian army.

Rawani:
No he's not ignorant, check yourself.

There is nowhere in the world GDP growth and a fall in inflation is not good news and a sign of economic improvement.

If growth is not as rapid, is it not because your rotten GEJ looted our treasury instead of diversifying from oil?

Kudos President Buhari. May this trend continue to improve to the devastation of irrelevant wailers.

No mind them. They want the slow growth rate to continue so that everyone will suffer

Ikengawo:


good news because youre ignorant.


[img]http://www.tradingeconomics.com/charts/og.png?url=/nigeria/gdp-growth-annual[/img]

You're the ignorant who doesn't understand the word "recovery" as implied in the report.

I bet you're saddened by this small recovery. Be prepared for more of such "bad news" (but good news to us) in the months and years ahead.

kahal29:


No mind them. They want the slow growth rate to continue so that everyone will suffer

I know. What a sad existence.

na wa o, where did this kind of wicked statistics come from.

Ikengawo:


good news because youre ignorant.


[img]http://www.tradingeconomics.com/charts/og.png?url=/nigeria/gdp-growth-annual[/img]

Criticize with sense. Compare the figures from Q1, Q2 and Q3 of 2015 and also Q3 of 2014

That's how we roll..... Steady the ship first, then sail on.



We believe

please note dat any End times dat is not from hooli or lasisi69 is an illegitimate End time.

signed;
Hooli,
End time vp.

End Time Gdp.

lol

Ikengawo:
[size=20pt]Nigeria's economic growth slows to 2.84 pct in Q3 2015 -Reuters[/size]



Read more at Reuters
http://www.reuters.com/article/2015/11/17/nigeria-economy-gdp-idUSL9N0WZ01J20151117#PzdWRqSCwPDk1WG4.99


LOL so APC will spin an economic crash into 'inches up'

Oga you really need to check yourself, the bitterness is eating you up. Na ya papa loss that election?? Stats showed that the GDP dropped and now the same stats are showing signs of marginal growth and recovery- what's there not to be happy about?? Should we be angry the GDP is rising?? What is really wrong with you people??

And what in seven hells is the business of an IPOD scumbag with how Nigeria fares Aren't you guys supposed to be concerned about biafra only

But the zombies said they don't believe in GDP figures

Wasn't that the issue they had with Okonjo Iweala?



These guys are extremely pathetic

Who is producing what?

hooli:
please note dat any End times dat is not from hooli or lasisi69 is an illegitimate End time.

signed;
Hooli,
End time vp.

End Time Gdp.

End time announcements.

http://leadership.ng/news/475486/nigerias-economy-improves-records-2-8-gdp-growth

Nigeria’s economy, expanded at a slightly faster pace in the third quarter as oil production increased.

The country recorded Gross domestic product (GDP) growth of 2.84 per cent year-on-year in the third quarter, compared with 2.35 per cent in the second quarter, latest report from the National Bureau of Statistics has shown.

This was higher by 0.49 per cent points from growth recorded in the preceding quarter, yet lower by 3.38 per cent points from 6.23 per cent growth recorded in the corresponding quarter of 2014.

Oil output jumped to 2.17 million barrels per day in the third quarter compared to 2.05 million barrels in the preceding quarter.

The country is struggling to cope with an almost 60 per cent plunge in crude prices since June last year. The oil industry rose 1.1 per cent in the three months to the end of September, after contracting 6.8 per cent in the previous quarter, the statistics agency said. The non-oil industry, which makes up 90 per cent of GDP, increased 3.1 per cent in the third quarter, down from 7.5 per cent a year earlier. Manufacturing fell 1.8 per cent, the third consecutive quarterly contraction.

During the quarter, aggregate GDP stood at N24.3 trillion (in nominal terms) at basic prices. Compared to the third quarter 2014 value of N22.9 trillion, nominal GDP was 6.02 per cent higher. Nominal GDP growth was also higher relative to growth recorded in Q1 of 2015 by 0.85 per cent points. The Nigerian economy can be more clearly understood according to the oil and non-oil sector classifications:

According to the report, growth in the non-oil sector was largely driven by the activities of crop production, Financial Services, Telecommunications, and Trade amongst others. The non-oil sector grew by 3.05% in real terms in the Third Quarter of 2015. This was 4.45 per cent points lower from the corresponding quarter in 2014 and marginally lower from the Second Quarter of 2015. In real terms, the non-oil sector contributed 89.73 per cent to the nation’s GDP, marginally higher from shares recorded in the third quarter of 2014 which was 89.55 per cent, but lower from the second quarter of 2015.

In the Q3 2015 the GDP at current basic price was N24.313 trillion as against N22.859 trillion in Q2 2015 and N22.933 in Q3 2014. On the other hand, inflation mirrors a sustained increase in the general level of prices for goods and services. The inflation
rate was 9.3 per cent in October 2015, slightly down from 9.4 per cent recorded in September 2015. the figures show that our GDP in the third quater of 2015 was much better than what we experienced in 2014 with an increase of about 1.38. Inflation has climbed down again. Despite several instability , I fink these are good economic indices for our economy.

This news deserves front page. Lala front page pls