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Philippine manufacturing output continues to shrink in March - World News

2021-05-07 07:36:06 GMT2021-05-07 15:36:06(Beijing Time) Xinhua English MANILA, May 7 (Xinhua) The performance of manufacturing production in the Philippines further contracted in March, the Philippine Statistics Authority (PSA) said on Friday. Based on the preliminary results of the Monthly Integrated Survey of Selected Industries, the PSA said the year-on-year value of production index (VaPI) and the volume of production index (VoPI) remain at a downward trend, declining 74.2 percent and 73.4 percent in March, respectively. The PSA said the decline in VaPI was faster than the reported downturn in the previous month of 46.4 percent. Of the 22 industry divisions, the VaPI dropped in five industry divisions. The highest annual rate of decline was reported in the manufacture of coke and refined petroleum products at 97.3 percent, said the PSA.

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