MANILA, Philippines - Factory output likely accelerated in August on increased domestic demand and recovery of export markets, Moody’s Analytics said.
In a research note, the research firm said the country’s manufacturing output likely grew by 11 percent in August, faster than the 9.6-percent expansion recorded in July.
“Philippine manufacturing continues to grow solidly,” Moody’s Analytics said.
“Domestic demand has recovered since last year’s typhoon, and export demand continued to improve through the third quarter. Solid private sector investment will continue to support production,” Moody’s Analytics said.
Official August manufacturing data will be released on Thursday, Oct. 9.
Latest data from the Philippine Statistics Authority showed the Volume of Production Index went up by 9.6 percent in July, driven by printing items, fabricated metal products, leather products, beverages, machinery except electrical, basic metals, wood and wood products, and electrical machinery.