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#NGOutlook2017: Stronger Macro Outlook in H2 2017

Proshare

Monday, July 31, 2017 6:05PM/ Proshare Research 

Proshare, Nigerian’s premier news analysis and financial hub, poised with the responsibility of enlightening and empowering the public hosted a social media tweet meet and interactive forum with United Capital tagged as #NGOUTLOOK 2017.  

It was an avenue to provide another perspective on how best to anchor the economy at this point of the cycle. At the same time, such refreshing opinion on both the market and macro economy were captured in United Capital’s recent report titled ‘After the Rain’. It provided an avenue to shed more light on how the existing policy operating instrument shaped their outlook.   

United capital admitted that inflation tend to demonstrate inertia due to its sticky nature downwards coupled with the present high month on month inflation. Thus, putting their inflation outlook for the second half of 2017 at 15.3%.  

The United Capital team were of the opinion that a hawkish position should be maintained by the apex bank  largely due to policy uncertainty from abroad  and   a possible rate hike by the Federal Reserves, which are upside risk to the external economy. They went further to say that a blunting in the monetary anchor will affect exchange rate stability negatively. 

They were of the opinion that improved infrastructural spending accompanied with increased spending in the non-oil sector will provide the needed leverage to take the economy out of a low growth cycle.  

Regardless, they do share the consensus position that the macro end will come out of the recession in the second half of 2017.   They expect the equity market to sustain an uptrend, while they do retain some degree of caution. 


 

 

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