Philippines’ manufacturing output rises
Eight industries posted hefty gains
By: Ronnel W. DomingoPhilippine Daily Inquirer
The growth in the value and volume of manufacturing output accelerated in July, reaching 6.7 percent and 6.8 percent year on year, respectively, according to the National Statistics Office.
NSO data show that in July, growth in value improved from 3.5 percent in June while volume grew at a faster pace from 1.2 percent.
Results from the agency’s latest monthly integrated survey of selected industries (MISSI)—which covers 20 major industries—showed that the index grew faster as eight industries recorded two-digit increases in output value.
Leading the gainers were furniture and fixtures with 46.6 percent and publishing and printing with 42 percent.
Also growing in two-digit rates were petroleum products (31.2 percent), paper and paper products (28.8 percent), rubber and plastic products (17.7 percent), beverage (14.3 percent), chemical products (13.1 percent) and basic metal products (11.1 percent).
Other gainers in July were food manufacturing, footwear and wearing apparel, transport equipment, miscellaneous manufactured items, and leather products.
On the other hand, seven sectors showed reduced output value led by non-electrical machinery (-34.7 percent), and wood and wood products (-28.1 percent).
Other losers were electrical machinery, non-metallic mineral products, textiles, tobacco, and fabricated metal products.
In terms of volume, significant increases were observed in seven industries led by furniture and fixtures (134.7 percent), and publishing and printing (42 percent).
Also showing double-digit volume growth rates were paper and paper products (32.9 percent), beverages (18.8 percent), miscellaneous manufactures (14.3 percent), chemicals (12.9 percent), and rubber and plastic products (12.8 percent).
Other volume gainers were electrical machinery, footwear and wearing apparel, petroleum products, transport equipment, leather and basic metals.
There were seven losers in terms of volume led by non-electrical machinery (-32.9 percent), wood and wood products (-28.1 percent) and textiles (-10.8 percent).
Other losers were food manufacturing, tobacco, non-metallic minerals, and fabricated metals.
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Tags: Business , Growth , manufacturing output , Philippines
