United Capital Growth and Performance Report
United Capital
Operating Environment
World Economy
$
Nigerian Economy
Economic Indicators
CPI
period products Index
Consumer
☐ Currency depreciation occurred in
emerging markets and developing
economies due to capital flow
reversal and tighter financial
conditions.
The Global growth Momentum
towards achieving the 3.9% expected
growth derailed as current trade
tensions and uneven expansion in
global output led the IMF to cut this
projection by 2 basis point to 3.7%.
The UK government confirmed that
the UK would be leaving the EU on
March 29, 2019, with the EU making
concessions and agreeing to accept
among other things, a free trade deal
which does not include the free
movement of EU citizens.
□ Foreign exchange inflow into the
economy fell by 38.34% to $6billion in
July, 2018 from $9.73billion in June,
2018.
Crude oil price remained above the
budget benchmark of $51 averaging
$73.04 in Q3 2018.
Growth projection for the economy
was revised upward from 2.1% to 2.9%.
This growth will be largely driven by the
expected increase in oil production to
2.3 million barrels per day.
☐ The CBN
monthly
CPI report
showed that inflation for the month of
September 2018 rose by 5 basis point
to 11.28% as against 11.23% in August,
2018.
The NSE ASI decreased by 14.99%
to 32,540.17 as at September 21, 2018
as against 38,278.55, at the end of
June 2018.
Broad Money Supply grew by
2.98% in August, 2018, annualized to
4.47%. This was however below the
provisional benchmark of 10.48% for
2018. This growth was largely driven by
growth in Net Foreign Assets to 18.63%.
7
www.unitedcapitalplcgroup.comView entire presentation