Sept manufacturing growth slows sharply


Growth in Philippine manufacturing output slowed sharply in volume and value to the 3-percent levels in September from double-digit rates a year earlier, with more than half of the 20 major industry sectors posting declines, the Philippine Statistics Authority (PSA) said in its latest report.

Manufacturing output as measured by the Volume of Production index (VoPI) climbed by 3.2 percent year-on-year in September, compared with a much stronger 19.0 percent increase recorded in the corresponding period last year, the latest results of the Monthly Integrated Survey of Selected Industries (MISSI) by the PSA showed on Tuesday.

In terms of the Value of Production Index (VaPI), manufacturing output grew 3.8 percent, against a 10.9 percent rise a year earlier, the PSA said.


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