PH factory output slows to 4.4% in Feb

PHILIPPINE factory output grew at a slower pace in February from a year earlier in volume terms and saw its steepest decline in 22 months in value terms as half of the 20 major production sectors posted decreases, the Philippine Statistics Authority (PSA) said on Tuesday.

According to the PSA’s latest Monthly Integrated Survey of Selected Industries (MISSI), the volume of production index (VoPI) grew at a slower rate of 4.4 percent in February compared with the 6 percent growth recorded in the same month last year.