FACTORY output both in volume and value continued to grow in August, data from the Philippine Statistics Authority showed.

Results of the statistics agency's latest Monthly Integrated Survey of Selected Industries released on Thursday showed the country's Volume of Production Index (VoPI) expanded by 534.6 percent in August 2021, slower than the 539.7-percent growth in July but a reversal from the 82.2-percent contraction a year before.

"16 industry divisions contributed to the positive growth of VoPI in August 2021, of which the fastest growth was reported in manufacture of coke and refined petroleum products at 3,800.9 percent," said the PSA in a statement.

Six industry divisions however posted declines with manufacture of tobacco products recording the fastest decline at -53.8 percent.

The Value of Production Index (VaPI) meanwhile also inched up by 523.3 percent, slower than the 528.7 percent in July and reversing an 83.1-percent decline a year earlier.

"The significant expansion in VaPI for the manufacturing sector in August 2021 was due to the increases in 14 out of 22 industry divisions. The fastest growth rate was reported in the manufacture of coke and refined petroleum products at 4,388.7 percent," said the PSA.

"The remaining eight industry divisions recorded decreases, with the manufacture of tobacco products registering the fastest annual decline of -53.8 percent," it added.

The PSA said the average capacity utilization rate for the sector dropped to 66.1 percent from 66.8 percent a month ago.

Nineteen of the 22 industry divisions had an average capacity utilization rate of more than 50 percent, led by manufacture of furniture (83.1 percent), manufacture of tobacco products (81.6 percent), and manufacture of other non-metallic mineral products (79.3 percent).