Approximately 50% of Venezuelan industries recorded reductions in their output levels over the first quarter, and according to preliminary figures shown in a study the Venezuelan Confederation of Industries (Conindustria) is preparing, a significant number of industries operate at 50% of its installed capacity.

Eduardo Garmendia, the President of Conindustria, noted that this year the Venezuelan authorities and the industrial sector have not held any meetings. Garmendia said it was important to re-launch those meetings.

Garmendia explained: "78% of companies say that their stocks have declined. They failed to re-stock supplies in the first quarter."

El Universal