Manufacturing rebounds in June

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Industrial production in the Philippines rebounded in June in both volume and in value from a year earlier.

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The latest Monthly Integrated Survey of Selected Industries (MISSI) released by the Philippine Statistics Authority (PSA) showed on Wednesday that basic metals largely accounted for the increase.

The volume of production index (VoPI) in June increased 8.5 percent whereas it had declined 1.7 percent a year ago. The June VoPI expansion was also greater than the 7.3 percent rise recorded in the previous month.

The value of production index (VaPI) also rose 4.7 percent from the 7.9 percent decline in June 2015. The growth was higher than the revised 2.7-percent increase in the previous month.

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