THE manufacturing sector registered declines in volume and value last May on weak global demand and the prolonged El Niño dry spell, the National Economic and Development Authority (NEDA) revealed on Friday.
Factory output as measured by the volume of production index (VoPI) dropped 3.1 percent year-on-year, from a revised increase of less than 0.1 percent in April and 12.7 percent in May last year, NEDA said, citing the latest Monthly Integrated Survey of Selected Industries (MISSI) from the Philippine Statistics Authority (PSA).
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