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Factory output slowed in December due to weak manufacturing of transport equipment, computer, electronic, optical products and basic metals, the Philippine Statistics Authority (PSA) reported.
In the Monthly Integrated Survey of Selected Industries (MISSI) released on Thursday, Feb. 9, the cou
File photo MANILA - Factories continued to register growth in December 2022, the Philippine Statistics Authority's (PSA) Monthly Integrated Survey of Selected Industries (MISSI) reported Thursday. The Volume of Production Index (VoPI) last December increased by 4.8 percent year on year, growing for six consecutive months. The growth in December last year was lower than November 2022's VoPI of 5.9 percent and December 2021's 19.2 percent. The PSA attributed the slower growth in VoPI in December 2022 to the decline in the top three industry divisions - the manufacture of transport equipment and basic metals, as well as the easing of growth in the production of computer, electronic, and optical products. "In addition to these three, slowdowns were also observed in the annual growth rates of the indices of eight industry divisions," it added. On the other hand, the Value of Production Index (VaPI) in the same period also grew 10.1 percent, expanding for 21 straight mo
The country’s manufacturing output grew in 2022, albeit at a slower pace than the previous year, as growth eased in some industry divisions, while some posted contractions, according to the Philippine Statistics Authority.
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