Nigeria’s gradual road to economic recovery

Nigeria’s gradual road to economic recovery

Nigeria’s gradual road to economic recovery   By Lukman Otunuga, Senior Research Analyst at FXTM Africa’s largest economy has displayed resilience over the past few months. From defending against the Covid-19 menace to battling untamed inflation and shouldering domestic risks. Initially, the economic outlook was bleak during 2020 after the economy sunk back into its second recession in less than five years. Lockdown restrictions caused significant disruptions in the value chain, halted most aspects of the economy while crippling the manufacturing sector. A growing sense of alarm and unease over…

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PMI day for Europe, UK & United States

By Lukman Otunuga Grab your popcorn and find a cosy seat ahead of the latest Purchasing Manager Index (PMI) data from Europe, United Kingdom and the US which could spark volatility in the FX space. The PMI is a leading indicator of economic health which essentially surveys purchasing managers at businesses that make up a given sector. Digging deeper, the headline PMI is a number from 0 to 100. Anything above 50 represents an expansion when compared with the previous month while under 50 represents a contraction. It is worth…

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