Manufacturing output falls 4.2% in value

Factory output in April fell in value terms, reversing growth from the same period last year as production in eight major sectors led by petroleum products slumped, preliminary data released by the Philippine Statistics Authority (PSA) on Wednesday showed.

As measured by the value of production index (VaPI), manufacturing output in April fell 4.2 percent year-on-year, turning around from a 10.9 percent increase a year earlier and a revised 9.7 percent rise recorded in March this year.