MANILA, Philippines — Growth in Philippine factory output eased in May from the previous month, driven mainly by the lower production of transport equipment and chemicals.
Data from the Philippine Statistics Authority (PSA) yesterday showed that the Volume of Production Index (VoPI) for manufacturing recorded a slower year-on-year growth of 10.2 percent in May from 11.7 percent in April.
However, the May VoPI growth was a turnaround from the 0.3 percent decline in the same month last year.
The data is based on the PSA’s Monthly Integrated Survey of Selected Industries.
The PSA attributed the slower VoPI growth to the production of the following: transport equipment, chemicals and food.
In particular, manufacture of transport equipment declined by 1.4 percent in May from a 9.8 percent increase in April.
Meanwhile, chemicals posted a faster drop of 14.8 percent in May from the previous month’s 2.1 percent decline.
Food production grew at a slower pace of 1.7 percent in May from 4.5 percent in the previous month.
PSA data showed that 12 other industry divisions posted increases in May. These are coke and refined petroleum products; computer, electronic and optical products; basic metals; leather and related products, including footwear; rubber and plastic products; basic pharmaceutical products and pharmaceutical preparations; furniture; beverages; textiles; printing and reproduction of recorded media; wearing apparel; wood, bamboo, cane, rattan articles and related products.
Meanwhile, those which registered declines are electrical equipment; paper and paper products; tobacco products; other manufacturing and repair and installation of machinery and equipment; other non-metallic mineral products and fabricated metal products.
Average capacity utilization rate for manufacturing in May was at 78.8 percent, up slightly from 78.5 percent in April.
All industry divisions reported capacity utilization rates above 65 percent in May.
Those which reported the highest capacity utilization rate in May were leather and related products (84.5 percent); coke and refined petroleum products (82.5 percent) and computer, electronic and optical products at (81.2 percent).
Around 36 percent of survey respondents were running at full capacity (90 percent to 100 percent) in May.
Meanwhile, 40.6 percent operated at 70 to 89 percent capacity and 23.3 percent were at below 70 percent capacity.