Factory output improves in uphill climb —PSA

By Chino S. Leyco

Factory output continued to grow, but at a much slower pace in April due to strong production of textiles, the Philippine Statistics Authority (PSA) reported Thursday, June 9,

In its Monthly Integrated Survey of Selected Industries (MISSI), the PSA said the country's volume of production index (VoPI) went up by 3.4 percent in April. The index slid 157.8 percent in the same period last year.

On a month-on-month basis, VoPI slowed from 352.3 percent last March.

The expansion in VoPI was brought about by the positive growth rates of 14 industry divisions.

Of these, manufacture of textiles was the major contributing factor with 45.6 percent annual growth rate.

On the contrary, the remaining eight industry divisions recorded downturns which was led by manufacture of electrical equipment with -28.1 percent annual rate.

The PSA said only 21.7 percent of the manufacturing firms surveyed operated at full capacity in January. Average capacity utilization of these factories stood at 69.2 percent.

About 39.7 percent of the establishments operated below 70 percent to 89 percent and 38.9 percent of the respondents operated at 70 percent.

The value of production index (VaPI) during the month increased at a slower rate as it posted a 9.7 percent jump last April.

Major sector that reported a strong two-digit increase was manufacturing of textiles with 51.1 percent. On the other hand, the remaining six industry divisions recorded decreases with manufacture of electrical equipment recorded the fastest annual decline of 25.4 percent.

Volume of net sales year-on-year improved by 13.3 percent, while value accelerated at a slower pace of 20.1 percent from 21.2 percent in March.