MANUFACTURING OUTPUT contracted to second straight month in October, the Philippine Statistics Authority (PSA) reported on Friday.
Preliminary results in the PSA’s latest Monthly Integrated Survey of Selected Industries (MISSI) showed that the factory output, as measured by the volume of production index (VoPI), fell by 1.8% year on year in October from the 5% decline in September. This was a reversal from the 1.4% growth a year earlier.
On a month-on-month basis, the manufacturing sector’s VoPI increased by 2.8%, a turnaround from the 2.5% contraction in September. Stripping out seasonality factors, output declined by 0.4%, slower compared with the 3.6% contraction last month.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
