cbn statement, 2012-07-24
It noted that with the weakened global outlook underpinned by the slowdown in economic activities in the US, and major emerging economies like Brazil, China and India, contraction in output in the Euro area along with the persisting debt crisis which is proving difficult to resolve, lower demand for crude oil and lower crude oil prices, coupled with the lower domestic output growth, build-up of inflationary pressures, slow down in the accretion to external reserves and the attendant pressures on the exchange rate as well as possible shortfall in the projected revenue for 2012, the ominous signs for the domestic economy are evident.
Sentiment: neutral
Topic: mp_economic_activity