Developments in the Industrial Sector in the Second Quarter of 1989

Authors

Central Bank of Nigeria CBN, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Industrial Sector, Nigeria, Industry, Second Quarter

Abstract

Aggregate industrial output improved during the second quarter of the year in spite of the problems of high production costs and liquidity constraints. The index of industrial production at 225.6 (1972 = 100) increased by 6.7 and 3.6. per cent over its levels 'in the corresponding quarter of 1988 and the first quarter of 1989, respectively (see table I). Compared with its level in the corresponding quarter of 1988, the rise in industrial output was accounted for by the respective increases of 20.6 and 2.4 per cent in mining and manufacturing output which outweighed the decline of 2.8 per cent in electricity consumed. As against this, the three components, manufacturing, electricity and mining increased by I.I, 3.2 and 10.5 per cent from their respective levels in the first quarter of 1989.

Author Bio

The authors are staff of the Industrial Studies Office, Sectoral Studies Division, Research Department, Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review

Issue

2

Volume

27

Recommended Citation

Central Bank of Nigeria (1989). Developments in the Industrial Sector in the Second Quarter of 1989. CBN Economic and Financial Review. 27(2),14-17.