Factory output declines in May

MANILA, Philippines -  Philippine factory output continued to decline in May, the National Statistics Office (NSO) reported yesterday.

In its monthly report, the NSO said the Volume of Production Index (VoPI) posted a growth of 0.9 percent in May, lower than the revised 2.7-percent improvement in April.

The slower growth, according to the latest Monthly Integrated Survey of Selected Industries (Missi) report by the NSO, “maybe attributed to the diminished production of outputs of paper and paper products and non-metallic mineral products.”

In terms of value, the production value also grew by a slower to 2.4 percent in May from 3.8 percent in April.

“This was mainly accounted for the reduction in value of production in the paper and paper products, non-metallic mineral products and fabricated metal products,” the NSO added.

Most plants also had an average capacity utilization rate of 83.2 percent.

“Eleven of the 20 major sectors registered capacity utilization rates of 80 percent and more, namely: basic metals, petroleum products, food manufacturing, non-metallic mineral products, electrical machinery, paper and paper products, chemical products, miscellaneous manufactures, rubber and plastic products, machinery except electrical and textiles,” the NSO said.