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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NigeriaNigeria GDP Growth Rate QoQ climbed to 10.0% in Q3 2024
FMPQuarterlyReleased November 2024
Nigeria GDP Growth Rate QoQ climbed to 10.0% in Q3 2024, released November 2024, up 10.0% from June's 0.0% reading. The reading matched the 10.0% consensus. GDP Growth Rate QoQ has now risen for 3 consecutive months. GDP Growth Rate QoQ is now the highest in 6 months.
Latest Release
10
Actual
10
Consensus
0
Previous
Median Absolute Error
±0.9 percentage points
across last 5 releases
Last Call
Nov 2024
Predicted: 10
Actual: 10
Error: +0
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
GDP Growth Rate QoQ (Nigeria) was reported at 10% in November 2024. This matched the market consensus of 10% exactly. The reading rose from the previous value of 0%. This is classified as a medium-impact indicator released on a quarterly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch).
Auto-generated from current model state · Refreshes on each release · Last update November 2024.
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GDP Growth Rate QoQ - NG
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About GDP Growth Rate QoQ — Nigeria
DEFINITION
The GDP Growth Rate QoQ (Quarter over Quarter) is a key economic indicator that measures the percentage change in a country's gross domestic product from one quarter to the next. It provides valuable insight into the overall health and growth of the economy, and is closely monitored by investors, policymakers, and businesses to make informed decisions. A positive GDP Growth Rate QoQ indicates a growing economy, while a negative rate suggests a decline. This indicator is an important tool for assessing the current state and predicting future trends of a country's economy.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2024): actual 10 %, consensus 10 %. Prior reading (Apr 2024): 0 %. Before that (Jan 2024): -16.1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.