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United Capital Predicts 4.9% Growth for Nigeria, Others in 2018

By Dipo Olowookere

In 2018, emerging and developing economies will likely record a Gross Domestic Product (GDP) growth of 4.9 percent, up from 4.6 percent in 2017.

This was contained in a report released by United Capital Plc Research this week titled ‘The global economy in 2018 – Can we hope for another cheery year?’

The report said entering 2018, the global macro picture is benign! Growth is strengthening in its most synchronized form since the global financial crisis, stock markets are testing new highs, interest rates are well anchored, corporate earnings are turning up, commodity prices are humming along quite nicely and consumers and businesses appear energized.

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It noted that the year 2017 was a good year for the global economy, as what started out to be a tip-toe into the year saw the market break into a run as the year progressed.

“Going into 2018, we ask: can we hope for another cheery year?” United Capital Plc Research asked in the report.

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It predicted that global growth is expected to continue, though at a more moderating pace.

Explaining, it said first, the increased breadth and depth of recovery and growth in the world economy points to a sustainability of this expansion.

“Second, we note that while there is a synchronized global recovery, the economic cycles themselves are not synchronized, this points to a longevity of this expansion.

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Additionally, financial, political and geopolitical risks remain a fundamental downside to our outlook,” it said.

“Nonetheless, Emerging and Developing Economies are expected to lead the way with a GDP growth of 4.9% (up from 4.6% in 2017).

“In Advanced Economies, GDP growth is expected to moderate to 2.0% (from 2.2% in 2017), amid capex and fiscal policy stimulus,” United Capital Plc Research said.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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