Zenith’s Outlook for 2nd half of ‘08

Zenith Bank recently released their macro-economic outlook for the 2nd half of 2008. Here are the highlights:

Slower activity in the first half of 2008 compared to a strong 2007.
There is a potential for improvement in the second half of the year.
The growth in price of crude oil is expected to slow
A long term trend of strong growth in consumer spending is expected to slowed due to inflationary presssures.
Inflationary pressures expected in this half
Overweight position is Nigerian equities
Increased government spending expected
Recommend investors diversify