Emmanuel Tumusiime-Mutebile: The impact of oil price volatility and its implications for the economy and for macroeconomic stability Speech by Mr Emmanuel Tumusiime-Mutebile, Governor of the Bank of Uganda, at the Dialogue on “The Impact of Oil Price Volatility and its Implications for the Economy and for Macroeconomic Stability”, Kampala, 25 February 2015.
If true, this relatively “elastic” supply of manufacturing capacity would imply that capacity utilization may not become “tight” by historical standards and our measure of capacity utilization would therefore be a less-certain early warning signal of potential pricing pressure.