outbrain
Close  

No respite in manufacturing slump: Factory output declines for 9 straight months

By: - Reporter / @bendeveraINQ
/ 04:05 PM October 04, 2019

The combined output of the country’s factories declined for the ninth straight month in August, prompting the country’s chief economist to call for faster completion of big-ticket infrastructure projects to arrest declining manufacturing numbers.

The Philippine Statistics Authority’s (PSA) Monthly Integrated Survey of Selected Industries for August 2019 showed that the Volume of Production Index (VoPI) dropped 9.3 percent that month, reversing the 3.1-percent growth posted in 2018.

ADVERTISEMENT

VoPI—a proxy for factory output—has been dropping since December last year.

The PSA, in a report on Friday, Oct. 4, said output of seven major industries had been declining every year.

FEATURED STORIES

Leading was petroleum products, annual decline of 59 percent; furniture and fixtures, 43.4 percent; transport equipment, 19 percent; miscellaneous manufactures, 17.7 percent and electrical machinery, 11.1 percent, according to the PSA report.

Production volume of beverages declined 8.4 percent while textiles, 3.6 percent also in August, it said./TSB

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: beverages, data, Factories, industries, Infrastructure, manufacturing, output, PSA, textile
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.