Manufacturing sector capacity utilisation up 66% in Zim
ZIMBABWE’s manufacturing sector capacity utilisation increased to 66% for the fourth quarter of 2021 amid indications of high optimism on economic rebound across the industry, Zimbabwe National Statistics Agency (Zimstat) quarterly Business Tendency Survey (BTS) has established.
Undertaken with the objective of producing indicators for use in monitoring current business situation and short-term developments in the sector, the 2021 fourth quarter BTS shows high industrial performance.
“Capacity utilization for fourth Quarter 2021 was 66%, representing a one percent increase from the third quarter value of 65% with the Purchasing Managers’ Index (PMI) standing 50,7%, representing a 10% point increase from 40,7% recorded in the third quarter,” said the survey.
Established remarkable performance resonates with broad based economic reforms incepted in 2018 which have also contributed significantly to a cutback in yearly inflationary pressures from a high of 837% reached in 2020 to the current 60, 6%.
The ‘Drinks, Tobacco and Beverages’ industry group recorded the highest capacity utilization value of 79%, as the ‘Other Manufactured Products’ group booked the least utilisation value of 15%
Food Stuffs sector recorded a 2 % growth , textiles and ginning sector 7% growth, clothing and footwear 1% growth, metals and metal products 1% growth.