CBN DISBURSES N596BN TO FARMERS

a marginal increase over the level in the preceding quarter. At 119.1 (2010=100), the estimated index of industrial production in the review quarter, rose by 1.7 per cent above the level in the preceding quarter. The increase reflected, improved activities in all sub-sector of the industry.

The estimated index of manufacturing production in the fourth quarter of 2018, at 188.6 (2010=100), showed a marginal increase of 3.2 per cent, when compared with the level in the preceding quarter.

Capacity utilisation was estimated at 55 per cent showing a marginal increase of 0.2 percentage point over the level in the preceding quarter.

“The improvement was due to continued expansion in consumer demand and moderated input prices,” it stated.

According to the report, global growth was estimated at 3.7 per cent for 2018, same as was for 2017.

This was due to a weaker outlook for some key emerging market and developing economies, arising from countryspecific factors, tighter financial conditions, geopolitical tensions, and higher oil import bills.