cbn statement, 2012-07-24
The projected decline in GDP growth for 2012 is attributable to a number of factors including: the estimated loss of about N207.41 billion in national output during the nation-wide strike in January; the dampening effects of low crude oil demand from major trading partners notably the US, Euro area, and China; falling oil prices, and weak aggregate domestic demand following rising prices across major segments of the economy; as well as the prevailing security concerns.
Sentiment: neutral
Topic: mp_economic_activity