Manufacturing capacity utilization for six months, declined marginally by 1.6% to 59.4 percent from 61.0 percent previous records 2018

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The Manufacturers Association of Nigeria (MAN)’s Economic Review for Second Half of 2019 report released in Executive Summary format over the week disclosed that the manufacturing capacity utilization declined marginally to 59.4 percent representing 1.6 percentage points decline from 61.0 percent recorded in the second half of 2018. 

The report however disclosed that when compared with 54.1 percent recorded in the first half of 2019, the figure increased by 5.3 percentage point.

Also the capacity utilization in the sector averaged 56.8 percent in the year 2019, indicating 0.95 percentage point increase from 57.75 percent average recorded in 2018. 

According to the report, the decline in capacity utilization in the sector over the review period was attributed to reduction in the purchasing power of the populace on account of the increasing inflation rate experienced in the country particularly in the second half of the year.

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