MANILA -- Manufacturing output in August 2017 recovered from its previous month’s decline, soaring in both volume and value terms, the Philippine Statistics Authority (PSA) on Tuesday reported.
In the Monthly Integrated Survey of Selected Industries (MISSI) of the PSA, an attach agency of the National Economic and Development Authority (NEDA), the manufacturing sector’s Volume of Production Index (VoPI) rose by 2.8 percent from the 3.5-percent decline last July.
The Value of Production Index (VaPI) also increased by 2.4 percent from a 2-percent drop last month.
Construction-related manufactures led the recovery in manufacturing output, as the production of basic metals, fabricated metal products and non-metallic mineral products continues to increase at 28.5 percent, 89.5 percent and 18.7 percent, respectively.
Export-oriented products similarly contributed to the recovery of the manufacturing sector as the production in furniture and fixtures, as well as leather products, remained positive at 35.6 percent and 21.9 percent.
NEDA Officer-in-Charge (OIC) and Undersecretary Rolando Tungpalan said the growth in manufacturing is expected to continue to improve in the fourth quarter on the back of increased demand for construction products.
“Sustained infrastructure development, translating to increase in public construction expenditure, is anticipated not only to increase the growth of the manufacturing sector but also to support the continuous growth of the economy,” he said.
Tungpalan thus underscored the need to expand the local production capacity and efficiency of construction-related manufacturers to support the government’s initiative of massive spending in infrastructure programs and projects.
MISSI is a report that monitors the production, net sales, inventories and capacity utilization of selected manufacturing establishments to provide flash indicators on the performance of the manufacturing sector. (PNA)
