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Manila Bulletin devider Business devider Trade & Industry devider Pre-war gains: Philippine factory output growth surges to 8-month high in February

Pre-war gains: Philippine factory output growth surges to 8-month high in February

Published Apr 7, 2026 12:40 pm  |  Updated Apr 7, 2026 01:00 pm
(Manila Bulletin file photo)
(Manila Bulletin file photo)

Domestic manufacturing activity posted notable gains in February, before the war in the Middle East began, according to the Philippine Statistics Authority’s (PSA) latest monthly integrated survey of selected industries (MISSI).

The February MISSI report released on Tuesday, April 7, showed the volume of production index (VoPI), a key proxy for factory output, rose 3.2 percent year-on-year that month, marking an eight-month high since June 2025’s 3.4 percent.

The acceleration in February VoPI growth was driven primarily by the manufacture of basic metals, food products, and beverages. Basic metals posted an annual increase of 18.7 percent, recovering from a 6.1-percent decline in January. Food products grew 3.4 percent, while beverages rose 7.2 percent during the month.

Meanwhile, the value of production index (VaPI) accelerated to 4.6 percent in February, which, according to PSA OpenSTAT data seen by Manila Bulletin, was the fastest annual increase since July 2024’s 6.6 percent. The surge in VaPI was led by basic metals, which grew 21.8 percent and accounted for 54.2 percent of overall growth. Other contributors included food products, which accelerated to 4.7 percent from 2.8 percent in January, and beverages, which rose nine percent from 1.6 percent.

However, the volume of net sales index (VoNSI) slowed, rising only 0.2 percent in February, compared with January’s 2.7-percent increase. The slowdown was mainly driven by the manufacture of computer, electronic, and optical products, which posted only a 3.9-percent increase during the month, contributing 72.9 percent to the overall deceleration.

The top contributors to VoNSI growth were food products, computer, electronic, and optical products, and transport equipment. For food products, VoNSI growth slowed to 5.2 percent from 5.6 percent in January, reflecting slower gains in processing and preserving of meat, fruits, and vegetables, and other food products.

The value of net sales index (VaNSI) also recorded a slower annual increase of 1.6 percent in February, down from January’s four percent. The slowdown was primarily attributed to the slower annual increase in the manufacture of computer, electronic, and optical products, which rose 6.9 percent in February from 22.4 percent in January, contributing 73.2 percent to the overall deceleration.

Also, average capacity utilization for manufacturing in February stood at 77.5 percent, slightly lower than January’s 77.8 percent but higher than February 2025’s 76 percent.

All industry divisions reported utilization rates above 60 percent in February. The highest were the manufacture of tobacco products at 83.1 percent, other manufacturing and repair/installation of machinery and equipment at 81.4 percent, and manufacture of wood, bamboo, cane, rattan articles, and related products at 81.2 percent.
Nearly one-third of establishments operated at full, or 90- to 100-percent, capacity, while 41.6 percent ran at 70 to 89 percent, and 25.9 percent below 70-percent capacity.

Related Tags

Philippine Statistics Authority (PSA) monthly integrated survey of selected industries (MISSI) volume of production index (VoPI) value of production index (VaPI) factory output
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