The Executive summary of the economic review for the first half of 2019 by the group under the aegis of the Manufacturers Association of Nigeria (MAN) which was sent to the AmehNews disclosed that manufacturing sector capacity utilization has slowed to 54.1 percent in the first half of 2019 from 54.50 percent recorded in same half of 2018; thereby indicating 0.4 percentage point decline over the period. It also declined by 6.9 percentage point when compared with 61.0 percent recorded in the second half of 2018. The fall in capacity utilization of the sector in the period is as a result of poor macroeconomic, regulatory and infrastructure conditions in the economy.
According to the analysis based on sectoral group presented a mixed result with capacity utilization declined in Food, Beverage and Tobacco group stood at 55.3 percent, while the Wood & Wood Products stood at 49.4 percent, Chemical & Pharmaceutical recorded 47.4 percent, also Non-metallic recorded 52.7 percent and Domestic/Industrial Plastic and Rubber group figures stood at 52.2 percent all respectively. Nevertheless, the following sectors, Textile Apparel & Footwear group recorded 56.5 percent growth, while Pulp, Paper, Printing & Publishing follow up with 67.0 percent, also Electrical Electronics recorded 48.2 percent and Motor Vehicle & Miscellaneous Assembly group up by 56.3 percent respectively.
The operational performances in the second half of 2019 showed, Capacity utilization in Textile Apparel & Footwear group increased by 6.13 percentage point when compared with 50.17 percent recorded in the corresponding half of 2018. However, the group declined by 3.4 percentage point when compared with 59.9 percent recorded in the preceding half.
Conversely, capacity utilization in Chemical & Pharmaceutical group declined to 47.4 percent in the first half of 2019 as against 53.1 percent and 59.0 percent recorded in the corresponding half of 2018 and the first half of 2019 respectively, according to the report.
The Captioned Photo: The President, Manufacturers Association of Nigeria, MAN, Engr Ahmed Mansur