MANILA, Philippines – Manufacturing output growth continued to ease in February compared to the previous month, the Philippine Statistics Authority (PSA) said.
The PSA’s Monthly Integrated Survey of Selected Industries released yesterday showed manufacturing output as measured by Volume of Production Index (VoPI) grew 1.2 percent in February, slower than the revised five percent growth posted in January.
“This can be attributed to the slowdown in production of furniture and fixtures (130.6 percent) and tobacco products (102.6 percent),” the PSA said.
The Value of Production Index (VaPI) likewise expanded at a slower rate of 0.9 percent in February compared to the previous month’s revised 4.3 percent.
The VaPI’s growth rate in February was brought about by increases posted by the following sectors: tobacco products (102.2 percent), furniture and fixtures (75.9 percent), machinery except electrical (61.3 percent), publishing and printing (53.1 percent), textiles (35.4 percent), fabricated metal products (30.5 percent), wood and wood products (21.6 percent), leather products (15.2 percent), paper and paper products (14.4 percent) and electrical machinery (12.9 percent).
The Value of Net Sales Index (VaNSI) posted an annual increment of 15 percent in February, nearly unchanged from the previous month’s revised 15.3 percent.
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Fourteen major sectors contributed to the latest VaNSI performance led by chemical products which grew by 66.6 percent.
The Volume of Net Sales Index (VoNSI) expanded at a slightly slower pace of 15.4 percent in February from the revised 16.1 percent in the previous month.
The VoNSI February result was driven by the growth of 11 major sectors namely: furniture and fixtures (80.7 percent), chemical products (66 percent), machinery except electrical (53.8 percent), fabricated metal products (42.6 percent), tobacco products (34.7 percent), textiles (29 percent), leather products (28.1 percent), publishing and printing (19.3 percent), rubber and plastic products (14.5 percent), food manufacturing (10.6 percent) and petroleum products (10.1 percent).
The average capacity utilization for total manufacturing was recorded at 83.1 percent in February.
“More than 50 percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates,” the PSA said.
Those with capacity utilization rates of 80 percent and above are: petroleum products, basic metals, non-metallic mineral products, food manufacturing, electrical machinery, machinery except electrical, chemical products, paper and paper products, rubber and plastic products, wood and wood products and publishing and printing.
The proportion of establishments that operated at full capacity or from 90 to 100 percent was 22.8 percent in February.
About 57.8 percent of the establishments operated at 70 percent to 89 percent capacity while, 19.4 percent of the establishments operated below 70 percent capacity.
