Manufacturing output in the Philippines expanded in volume and value terms in June from a year earlier, boosted largely by the continued surge in production in the printing industry.
The latest results of the Monthly Integrated Survey of Selected Industries (MISSI) by the Philippine Statistics Authority (PSA) showed that the Volume of Production index (VoPI) recorded year-on-year growth of 13.3 percent in June, compared with 8.9 percent during the same month last year.
In terms of value, as measured by the Value of Production Index (VaPI), manufacturing output rose to 10.1 percent from a rise of 0.8 percent in June 2013.
“The increase was pushed by the three-digit expansion in printing (153.8 percent) and the two-digit growth in eight sectors,” the PSA said in the statement accompanying the MISSI results.
The survey said the printing industry includes commercial printers of books, magazines, newspapers, and other printed materials.
Printing production up 152%
By volume, printing posted a 153.8-percent increase in production, a significant contribution to the rise in the VoPI.
Other major sectors that contributed to the expansion in factory output were leather products, fabricated metal products, machinery except electrical equipment, furniture and fixtures, basic metals, transport equipment, textiles, and food manufacturing.
Double-digit growth in these sectors also pushed the increase in the value of production index.
The average production capacity utilization in June for all forms of manufacturing stood at 83.4 percent, with more than half of the 20 major industries registering capacity utilization rates of 80 percent or more.
In contrast to the robust VoPI and VaPI results, the Volume of Net Sales Index and Value of Net Sales Index, two additional measures compiled by the MISSI, grew at slower rates in June.
Net sales volume was not able to outpace its year ago figure, growing 11.1 percent in June 2014 compared to 21.0 percent recorded last year, while the Value of Net Sales Index slowed down to 7.9 percent in June 2014 compared with 12.0 percent in June 2013.