Factory output growth rises faster

The country posted higher manufacturing output growth in November from the previous month, driven by improvements in the beverage, transport equipment, and chemical industry divisions.

- LOUELLA DESIDERIO

Preliminary results of the Monthly Integrated Survey of Selected Industries released by the Philippine Statistics Authority (PSA) yesterday showed the Volume of Production Index (VoPI) for manufacturing registered a 1.9 percent growth last November, faster than the 1.5 percent increase in October last year.

The VoPI growth, however, was lower than the 6.4 percent uptick in the same month in 2022.

The PSA attributed the faster VoPI growth in November from the previous month to the performance of three industry divisions.