Pages: (74-96 )
Abstract
Purpose: The study investigates the effect of macroeconomic indices on performance of the manufacturing industry in Nigeria. This study employs a time series macro data from the manufacturing sector for a period of 39 years spanning from 1981-2019.
Design/methodology/approach: The study adopts ex-post facto research design, and the population of the study consists of the manufacturing industry in Nigeria.
Findings: The study reveals that the performance of manufacturing industry in Nigeria was significantly affected. It showed that macroeconomic indices had a positive significant effect on manufacturing industry output.
Originality/value: Consequent to these findings, the macroeconomic indices effect implies that the management, policymakers, government and investors should leverage on efficient macroeconomic indices management options to easing difficulties to effective performance of manufacturing companies in Nigeria. Managers should reduce high dependence on foreign importation of raw materials that could be sourced locally to reduce controllable losses resulting from exchange rate differences.
Keywords: Exchange rate, Firm performance, Industry output, Inflation rate, Macroeconomic indices, Manufacturing industry,