Factory output picks up in April

MANILA, Philippines - Manufacturing output grew at a faster pace in April compared to the same month a year ago amid increases posted by petroleum products and six other commodities.

The Monthly Integrated Survey of Selected Industries released by the Philippine Statistics Authority (PSA) yesterday showed manufacturing output as measured by Volume of Production Index (VoPI) grew 12.8 percent in April compared to the revised nine percent growth posted in the same month last year.

“Petroleum products (128.7 percent) led the sectors that contributed to the performance of VoPI,” the PSA said.

Other major sectors that pulled-up the VoPI were the following: printing (96.8 percent), machinery except electrical (90.7 percent), tobacco products (78.2 percent), fabricated metal products (43.1 percent), beverages (30.7 percent) and furniture and fixtures (12.6 percent).

In terms of Value of Production Index (VaPI), manufacturing out

put rose 12.9 percent in April from the previous year’s 1.5 percent contraction.

“This is due to the strong performance of petroleum products which bounced back and posted a three-digit growth of 159.9 percent,” the PSA said.

Other sectors that significantly contributed to the positive performance of VAPI were: printing (96.8 percent), machinery except electrical (84.1 percent), tobacco products (77.8 percent), fabricated metal products (38.1 percent) and beverages (31.4 percent).

The growth in Value of Net Sales Index (VaNSI) meanwhile, eased to 0.3 percent in April from the 12.2 percent growth posted in the same month a year ago.

Ten major sectors contributed to the increase with four sectors posting double-digit increments such as printing (79.9 percent), fabricated metal products (68.8 percent), textiles (21.5 percent) and petroleum products (21.4 percent).

The Volume of Net Sales Index (VoNSI) likewise gained a minimal 0.2 percent in April 2014 compared with 24.2 percent during the same month last year.

Four out of nine major sectors that posted increments significantly pulled up VoNSI which are printing (79.9 percent), fabricated metal products (75 percent), textiles (18.7 percent) and furniture and fixtures (15.7 percent).

The average capacity utilization rate in April for total manufacturing was recorded at 83.4 percent.

Of the 20 major industries, 11 operated at 80 percent and above capacity utilization rates such as petroleum products; basic metals; non-metallic mineral products; machinery except electrical; food manufacturing; electrical machinery; chemical products; paper and paper products; rubber and plastic products; wood and wood products; and publishing and printing.

The proportion of establishments that operated at full capacity (90 percent to 100 percent) was at 24.1 percent in April 2014.

About 56.7 percent of the establishments operated at 70 percent to 89 percent capacity while 19.2 percent of the establishments operated below 70 percent capacity.