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Business

Factory output expands at faster pace in September

Louella Desiderio - The Philippine Star
Factory output expands at faster pace in September
Preliminary results of the Monthly Integrated Survey of Selected Industries released by the PSA yesterday showed the Volume of Production Index (VoPI) growth was at 9.1 percent in September, faster than the 6.8 percent expansion in August.
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MANILA, Philippines — Manufacturing output posted a higher growth rate in September amid improvements in three industry divisions such as petroleum products, electronic products and basic metals, according to the Philippine Statistics Authority (PSA).

Preliminary results of the Monthly Integrated Survey of Selected Industries released by the PSA yesterday showed the Volume of Production Index (VoPI) growth was at 9.1 percent in September, faster than the 6.8 percent expansion in August.

The September VoPI growth is also higher than the 4.5-percent increase in the same month last year.

The PSA attributed the higher VoPI growth in September to the increases in coke and refined petroleum products; computer, electronic and optical products and basic metals.

In particular, the coke and refined petroleum products industry division registered a 78.6-percent increase in September from the previous month’s 47.5-percent growth.

The computer, electronic and optical products industry division grew 2.9 percent in September, a turnaround from the 5.1-percent decline in August.

Basic metals posted a 14-percent increase in September from the previous month’s 5.6-percent growth.

Like the VoPI, the Value of Production Index (VaPI) had a higher growth rate of 8.9 percent in September from 7.5 percent in August.

The VaPI growth in September, however, was lower than the 12.6-percent uptick in the same month last year.

The PSA said the higher VaPI growth in September from the previous month was due mainly to the higher increase in coke and refined petroleum products industry division at 66.9 percent in September from 39.2 percent in the previous month.

Another main contributor to the VaPI growth was the computer, electronic and optical products industry division, which had a 2.9-percent growth in September, a turnaround from the 2.4-percent decline in the previous month.

The PSA said basic metals also contributed to the VaPI growth as it registered a faster increase of 9.4 percent in September from 1.3 percent in August.

The PSA said the average capacity utilization rate for manufacturing was reported at 74.3 percent in September from 74 percent in the previous month.

It said all industry divisions reported capacity utilization rates of more than 50 percent in September.

“The top three industry divisions in terms of reported capacity utilization rate were manufacture of machinery and equipment except electrical (81 percent), manufacture of rubber and plastic products (80.1 percent), and manufacture of computer, electronic and optical products (79.4 percent),” the PSA said.

It also said 25 percent of the total number of responding establishments operated at full capacity or 90 to 100 percent.

Meanwhile, 40 percent operated at 70 to 89 percent capacity, and 35 percent operated below 70 percent capacity.

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