Maniolas

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. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 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 Read More …