Factory output expands despite October storms

Despite storms and weather disturbances, domestic factory output maintained growth in October, with both production volume and value posting growth for the third consecutive month, according to the Philippine Statistics Authority (PSA).

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The PSA’s latest monthly integrated survey of selected industries (MISSI), released Tuesday, Dec. 9, reported that the volume of production index (VoPI)—an indicator of factory output—rose by 1.4 percent in October, higher than the 0.8-percent growth recorded in September.

By comparison, VoPI recorded a 1.2-percent year-on-year decline in the same month last year. The year-to-date figure also showed a decrease of 0.3 percent for the period.

According to the PSA, the acceleration in the year-on-year growth of VoPI for manufacturing in October was mainly driven by the manufacture of computer, electronic, and optical products, which surged to 18 percent from 4.2 percent in the previous month.