Saturday, July 01, 2017 08:00 AM / Proshare
From the Editor’s Desk
Recently the apex made available the consumer confidence index (CCI) for the second quarter of 2017, the CCI gauges household reaction to the prevailing macroeconomic reality. Therefore the CCI more of a lagging indicator, whereby it dictated by the direction of leading indicators at any point in time: it moves in tandem with the cycle. The consumer confidence index tilted upwards from -29.4 to -17, reflective of 12.7 increases for the second quarter of 2017.
Implying two consecutive months of strengthening in the consumer confidence index, such increase suggests a reduction in consumer pessimism compared to the previous quarter as certain leading indicators beam the green light. At the same time the consumer outlook for the economy for the second quarter of 2017 also caved outwards from -29.8 to -9.7.
Fig 1: A Graphical Illustration of both Consumer Confidence Index and Outlook on the economy
Source: Proshare Research
Improved consumer outlook for the economy was largely due to a more relatively stable naira and the possibility of interest rate taking a hair cut within the next 12 months.
As the outlook on interest rate tilted from 8.9 to -1.5; Even though Consumer outlook for unemployment shifted from 21.3 to 19.1, regardless unemployment still remained a concern. Suggesting that household maintain a positive sentiment on unemployment sticking to an upward trajectory.
The consumer outlook on inflation caved inwards from 36.1 to 23, given the fact that non monetary factors steer inflation: households have always maintained a bullish position on rising inflation. It is expected that buffering in the consumer confidence index will be accompanied by an increase in consumer spending as the downturn fade off.
Monday, July 3, 2017
Presco Plc will be marked down today having declared a dividend of 150kobo.
Tuesday, July 4, 2017
The 2017 edition of the Nigeria Energy Forum tagged “Sustainable Energy for Economic Development” will commence, while Nigeria International Technology Exhibition & Conference (NITEC 2017) themed “The Future of Big Data, Analytics & Applications” will hold today.
The Nigeria Anti-Corruption Collective Action Workshop titled “MSMEs on the Fight against Corruption” will also hold today in Lagos.
Wednesday, July 5, 2017
The formal announcement of Andersen Nigeria will be made today in Lagos. SpeedUPAfrica Bootcamp powered by SiliconValley VC firm Draper Dark Flow (DDF) will commence today.
Thursday, July 6, 2017
Techplus 2017 - Africa’s largest Tech gathering will commence today in Lagos, while the the fourth edition of Women in Journalism, themed “Pioneers, Innovators and The Brave New World” holds at the MUSON Centre.
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