Manufacturers in Venezuela were without power for nearly half of working hours in Q2, the country’s largest industrial group, the Industrial Federation, said in a Tuesday survey. Firms averaged 488 working hours in the quarter, of which 214 hours lacked electricity, and reported 57 unplanned outages on average—about five per week—an 18% increase from Q1. The federation said years of underinvestment and poor maintenance in the power sector, compounded by U.S. sanctions, are constraining the indus

Manufacturers in Venezuela were without power for nearly half of working hours in Q2, the country’s largest industrial group, the Industrial Federation, said in a Tuesday survey. Firms averaged 488 working hours in the quarter, of which 214 hours lacked electricity, and reported 57 unplanned outages on average—about five per week—an 18% increase from Q1. The federation said years of underinvestment and poor maintenance in the power sector, compounded by U.S. sanctions, are constraining the industrial sector and hampering the economic recovery.