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Business

Factories continue churning out higher output

Louella Desiderio - The Philippine Star
Factories continue churning out higher output
Based on the Monthly Integrated Survey of Selected Industries released by the PSA, manufacturing output as measured by the Volume of Production Index (VoPI) posted an annual growth of 3.5 percent in August, higher than the 2.4 percent in July. 
STAR / File

MANILA, Philippines — The country’s manufacturing output grew slightly in August from the previous month, with most industry divisions posting growth,  according to the Philippine Statistics Authority (PSA). 

Based on the Monthly Integrated Survey of Selected Industries released by the PSA, manufacturing output as measured by the Volume of Production Index (VoPI) posted an annual growth of 3.5 percent in August, higher than the 2.4 percent in July. 

This was significantly lower, however, than the 533.7 percent growth in VoPI posted in August last year. 

“Out of the 22 industry divisions, 17 reported positive annual growths… led by the manufacture of machinery and equipment except electrical with 78 percent annual growth rate,” the PSA said. 

Other industry divisions that posted annual increases in August were transport equipment; food products; fabricated metal products, except machinery and equipment; computer, electronic and optical products; chemical and chemical products; other manufacturing and repair and installation of machinery and equipment; paper and paper products; beverages; printing and reproduction of recorded media; wood, bamboo, cane, rattan articles and related products; leather and related products, including footwear; rubber and plastic products; textiles; basic pharmaceutical products and pharmaceutical preparations; furniture and wearing apparel.

On the other hand, five industry divisions had annual decreases, with manufacture of electrical equipment seeing the biggest annual drop of 49.3 percent. 

Other industry groups which registered annual declines were basic metals, coke and refined petroleum products, other non-metallic mineral products  and tobacco products. 

PSA said the Value of Production Index (VaPI) posted an 11 percent growth in August, faster than the 10.6 percent expansion in July. 

The growth in VaPI in August, however, was much lower compared to the 531.3 percent uptick in August last year. 

Of the 22 industry divisions, 18 contributed to the increase in VaPI in August. 

These were food products; transport equipment; computer, electronic and optical products; fabricated metal products, except machinery and equipment; machinery and equipment except electrical; chemical and chemical products; coke and refined petroleum products; beverages; paper and paper products; other manufacturing and repair and installation of machinery and equipment; rubber and plastic products; wood, bamboo, cane, rattan articles and related products; leather and related products, including footwear; textiles; printing and reproduction of recorded media; wearing apparel; basic pharmaceutical products and pharmaceutical preparations and furniture. 

Those which registered declines in August were basic metals, electrical equipment, tobacco products and other non-metallic mineral products. 

PSA said the average capacity utilization rate for the manufacturing sector based on the responses of establishments increased slightly to 71.4 percent in August from 71.3 percent in July. 

“There were 20 out of 22 industry divisions with more than 60 percent average capacity utilization rate, led by manufacture of furniture (83.3 percent), manufacture of computer, electronic and optical products (81.7 percent), and manufacture of wearing apparel (79.3 percent),” PSA said. 

Meanwhile, 25.6 percent of the responding establishments operated at full capacity or at 90 to 100 percent. 

PSA said 36.6 percent operated at 70 to 89 percent while 37.8 percent operated below 70 percent capacity.

PSA

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