PH factory output defies weather

Despite ongoing weather disturbances, domestic factory output recorded year-on-year growth in September, according to the Philippine Statistics Authority (PSA).

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The PSA's latest monthly integrated survey of selected industries (MISSI), released on Friday, Nov. 7, showed that the volume of production index (VoPI)—a proxy for factory output—increased by 1.3 percent in September, up from 0.9 percent in the previous month.

In contrast, VoPI recorded a 5.6-percent year-on-year decline in the same month last year.

According to the PSA, the accelerated year-on-year growth rate of manufacturing VoPI in September was led by the manufacture of coke and refined petroleum products, which recorded a smaller annual decline of 3.2 percent from 12.1 percent in August; the manufacture of beverages, which rebounded to 2.9-percent growth from an 8.2-percent drop the previous month; and the manufacture of computer, electronic, and optical products, which rose 4.2 percent, faster than the 1.2 percent in August.