Quantcast
Latest Stories

Factory output rose by 22.2% in October

By

MANILA, Philippines—The country’s manufacturing output posted double-digit growth in October as industries prepared for the spike in consumer demand during the holidays.

The value and volume of manufacturing output in October climbed by 18.9 percent and 22.2 percent year on year, respectively, according to data from the National Statistics Office. This was the fastest in two years.

“The increase in October is indicative of the expected surge in the domestic production to take advantage of the spending spree in the last quarter of the year due to the holiday season,” said economist Cid Terosa of the University of Asia and the Pacific.

The results of the NSO’s Monthly Integrated Survey of Selected Industries (MISS) showed that the growth in the value of output, as measured by the Value of Production Index (VaPI), was helped by the “significant expansion” in five industries—footwear and wearing apparel, electrical machinery, basic metals, food manufacturing and transport equipment.

The footwear and wearing apparel led the gainers, posting a 120.7-percent rise in value of output.

It was followed by electrical machinery (56.6 percent), basic metals (26.3 percent), food manufacturing (25.4 percent) and transport equipment (14.7 percent).

In terms of production volume, measured by the Volume of Production Index (VoPI), the same industries were the lead gainers.

Increases were observed in footwear and wearing apparel (128.9 percent), electrical machinery (75.2 percent), basic metals (33.8 percent), food manufacturing (19.4 percent), wood and wood products (15.5 percent), transport equipment (13.5 percent) and machinery except electrical (12.3 percent).

Nine major sectors, however, showed decline in the value of output. These were chemical products (-17.1 percent), transport equipment (-20.7), petroleum products (-8.1), textiles (-43.7 percent), tobacco products (-24.1 percent), basic metals (-9.2 percent), furniture and fixtures (-17.5 percent), leather products (-34.7 percent), and paper and paper products (-1.7)


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: factory output , manufacturing , Philippines



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Napoles tags over 100 officials in pork scam – Lacson
  • Vitangcol to sue Czech envoy
  • Senator’s kickback from pork bigger than those of Enrile, Estrada, Revilla – Lacson
  • 43 out of 414 Etihad passengers yet to be found, tested for MERS-CoV – Palace
  • Sandigan junks Marcos family claim to Paoay property
  • Sports

  • Caguioa blasts ‘no heart, soft’ Ginebra on Twitter
  • San Mig Coffee grinds out win over Alaska to force decider
  • UP nips St. Benilde; Adamson blasts RTU in Filoil women’s caging
  • Kevin Garnett responds to Raptors’ GM F word
  • Albert Pujols hits 500th HR of major league career
  • Lifestyle

  • Entering the monkhood a rite of passage
  • Haneda International Airport: A destination on its own
  • Wanted: Beauty queen with a heart that beats for the environment
  • Kim Atienza: At home with art and design
  • Life lessons I want to teach my son
  • Entertainment

  • Bollywood Oscars, film stars come to Florida
  • Ex-Fox exec denies allegations in sex abuse suit
  • Kris Aquino backtracks, says Herbert Bautista and her are ‘best friends’
  • Summer preview: Chris Pratt enters a new ‘Galaxy’
  • Bon Jovi helps open low-income housing in US
  • Business

  • SM to rebuild Tacloban hospital
  • PSEi slips after 4-day rally
  • Toyota sells 2.58 million vehicles, outselling GM
  • McDonald’s 1Q profit slips as US sales decline
  • SEC approves SM’s P15B retail bond offer
  • Technology

  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Mark Caguioa lambasts Ginebra teammates on Twitter
  • Opinion

  • One-dimensional diplomacy: A cost-benefit analysis of Manila’s security deal with Washington
  • No ordinary illness
  • Reforest mountains with fire trees and their kind
  • Day of the Earth
  • When will Chinese firm deliver new coaches?
  • Global Nation

  • 19 Ukrainians, Russians, Filipinas rescued in bar raid
  • Filipinos coming home from Mideast must obtain MERS clearance – DOH
  • US Secret Service in Manila ahead of Obama visit
  • Palace thanks Estrada for successful HK mission
  • Hong Kong accepts PH apology; sanctions also lifted
  • Marketplace