Factory output sustained its positive annual growth in August due to strong production of machinery and equipment, the Philippine Statistics Authority (PSA) reported Friday, Oct. 7.
In its Monthly Integrated Survey of Selected Industries (MISSI), the PSA said the country's volume of production index (VoPI) went up by 3.5 percent in August from 2.4 percent in the previous month.
The index growth, however, slowed compared with 533.4 percent posted in the same period last year.
The expansion in VoPI was brought about by the positive growth rates of 22 industry divisions.
Of these, manufacture of machinery and equipment except electrical was the major contributing factor with 78 percent annual growth rate.
On the contrary, five industry divisions posted annual decreases with manufacture of electrical equipment exhibiting the fastest annual drop of -49.3 percent.
According to the PSA, only one-fourth percent of the manufacturing firms surveyed operated at full capacity in August.
About 25.6 percent of the establishments operated at 90 percent to 100 percent capacity and 13.2 percent of the respondents operated below 50 percent.
Meanwhile, the value of production index (VaPI) during the month also increased at a much faster rate as it posted an 11 percent jump last August from 10.6 percent in the previous month.
Eighteen major sectors reported positive growth rates in August, led by manufacture of machinery and equipment except electrical at an annual growth rate of 77.4 percent
On the other hand, remaining four industry divisions posted decrements in their production with manufacture of electrical equipment registering the fastest annual decline of -48.2 percent.
Volume of net sales year-on-year rose to 17.5 percent, while the rise in value improved to 26 percent.