Some economists have jokingly defined a recession like this: If your neighbor gets laid off, it's a recession. If you get laid off, it's a depression.
Economists officially define a recession as two consecutive quarters of negative growth in gross domestic product (GDP). It is also regards as a significant decline in economic activity spread across the economy, lasting more than a few months" as the hallmark of a recession.
Some businesses may be affected only moderately, or not at all, if the recession is mild and brief. If the recession lingers and the downturn is widespread, all big businesses - firms publicly traded on Nigerian Stock Exchanges (NSE) - may ultimately be hurt.
For decades, the Nigerian government have been talking about diversification of our economy for oil which has perennially form the major source of our revenue.
Subscribe to:
Post Comments (Atom)
Financial Doping: When Money Creates an Illusion of Competitive Strength
In sport, doping refers to the use of prohibited substances or methods to enhance performance beyond what would ordinarily be achieved thr...
-
The Group Managing Director of Agile Communications, Rufai Ladipo, has said that healthy and competitive Small and Medium Enterprises, SM... -
The International Finance Corporation, IFC, a member of the World Bank Group, has estimated that in Africa, small and medium enterprises,... -
When you decide to venture into the sojourn of self-employment, starting a business with partner(s) offers many benefits, not the least of...
No comments:
Post a Comment