MANILA – The Philippine manufacturing output continued to register a drop in terms of volume produced during the month of January, data released by the Philippine Statistics Authority (PSA) revealed.
According to the PSA data, the volume of production index (VoPI) posted a year-on-year decrease of 4.1 percent, which compares with the 10.8-percent growth recorded the same month in 2018.
“Twelve out of the 20 major industry groups registered major declines,” the PSA said in an accompanying statement.
“Major industries that significantly influences the decrease were furniture and fixtures and basic metals, with two-digit decreases of 31.1 percent and 12.0 percent, respectively,” it added.
Drops were also recorded in fabricated metal products (-9.3 percent), non-metallic mineral products (-8.6 percent), printing (-8.3 percent), and machinery except electrical (-8.3 percent).
In terms of the value, the manufacturing output likewise recorded a drop as it decreased by 0.7 percent versus the annual growth rate of 10.9 percent the same month last year.
“The decrease in VaPI was brought about by the 11 industry groups led by basic metals with two-digit drop of 13.5 percent,” the PSA said.
Data from the PSA showed that drops were also recorded in basic metals (-13.5 percent), fabricated metal products (-9.7 percent), miscellaneous manufactures (-9.5 percent), and wood and wood products (-7.3 percent). (GMA News)
