THE PHILIPPINES’ industrial sector is still not operating at full capacity, Pantheon Macroeconomics said, though this has helped tame price pressures.
“Underlying price pressures in the Philippine economy remain contained in more ways than one. One main aspect is the fact that heavy industry is still operating below ‘normal’ capacity,” Pantheon Macroeconomics Chief Emerging Asia Economist Miguel Chanco said in a report.
The latest data from the Bangko Sentral ng Pilipinas’ (BSP) Business Expectations Survey showed that the average capacity utilization of the industry and construction sectors edged lower to 71.9% in the third quarter from 72% a quarter earlier.
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