• Factory output drops in July, reverses yr-earlier gains — PSA

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    Industrial production fell in July both in volume and value terms, reversing the increases posted a year earlier, data released by the government on Tuesday showed.

    The volume of production index (VoPI) fell 1.1 percent, against a 7.7 percent increase recorded in July 2016, while the value of production index (VaPI) dropped 1.1 percent, against 12.1 percent growth a year earlier, the Philippine Statistics Authority (PSA) said in its report.

    Declines were recorded in chemical products, rubber and plastic products, textiles, food manufacturing, beverages, miscellaneous manufacturers, petroleum products, tobacco products, wood and wood products.

    MAYVELIN U. CARABALLO

     

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