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Consumer confidence has slumped to levels seen in the depths of the recession.
However, he said demand for unsecured credit was low compared with levels seen before the crisis.
Mr. Hill is more bullish and says that sales can steady at levels seen last month and not fall further.
When asked if New York could ever return to crime levels seen in the late 1980s, he said: "Never.
The country emitted 371m tonnes of CO2 in 2012 – consistent with the levels seen over the past decade.
If house prices are heading back to the levels seen in 1997, then we are facing catastrophe.
The wider picture is that investor appetite remains weak compared with levels seen before Buhari's election in March.
Target: Keep the affordability ratio at least stable – ideally get it down to levels seen a decade or more ago.
Mortgage rates should come down, but they are unlikely to return to the levels seen in 2003 and 2004.
The agency also reported that speculative purchase positions are currently near the lowest levels seen over the last year.
Default rates on corporate bonds have already zoomed past the levels seen in the last recession, in 1990.
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CEO of Professional Science Editing for Scientists @ prosciediting.com