Manufacturing remains on expansion mode in March 2018

MANILA, Philippines — Domestic manufacturing activity sustained its growth in March although at a slower pace, buoyed by the strong performance of eight major sectors, the Philippine Statistics Authority (PSA) reported yesterday.

In its Monthly Integrated Survey of Selected Industries, the PSA said the Volume of Production Index (VoPI) rose by 13.6 percent in March, faster than the 12.3 percent growth in the same month last year. This, however, was a more gradual growth in output compared with 21.9 percent in January and 24.8 percent in February.

Growth in the VoPI was led by printing, which recorded a 107.6 percent expansion, supported by double-digit growth in seven other sectors: textiles (32.9 percent), food manufacturing (28 percent), miscellaneous manufactures (15.5 percent), petroleum products (15.3 percent), wood and wood products (15 percent), non-metallic mineral products (12.7 percent) and electrical machinery (11.9 percent).

The Value of Production Index (VaPI) also sustained its double-digit growth to 12.8 percent in March from 11.8 percent in the same period last year. This was also a more gradual growth from 21.9 percent in January and 23.6 percent in February.

Growth in the VaPI was spurred by growth in nine major sectors led by printing (102.8 percent), textiles (33.6 percent), food manufacturing (26.6 percent), petroleum products (24.6 percent), miscellaneous manufactures (17.0 percent), wood and wood products (16.7 percent), non-metallic mineral products (15.8 percent), electrical machinery (14.3 percent) and tobacco products (14.2 percent).

Factories operated at an average capacity utilization rate of 84.2 percent in March, with facilities for petroleum products operating at above-average capacity of 89.6 percent.

Twelve of the 20 major industries operated at 80 percent and above capacity utilization rates. These include: basic metals (88.8 percent), non-metallic mineral products (86.9 percent), machinery except electrical (86.0 percent), food manufacturing (85.6 percent), electrical machinery (84.9 percent), chemical products (84.9 percent), paper and paper products (83.5 percent), rubber and plastic products (83.1 percent), printing (81.6 percent), wood and wood products (81.3 percent) and textiles (80.8 percent).