Thu, 02 Feb 2023

MANILA, Dec. 7 (Xinhua) -- The performance of manufacturing production in the Philippines sustained its growth in October, the Philippine Statistics Authority (PSA) said on Wednesday.

Based on the preliminary results of a monthly survey, the PSA said the year-on-year value of production index (VaPI) and the volume of production index (VoPI) increased 12.7 percent and 5.1 percent in October, respectively.

The PSA attributed the VaPI growth in October to the positive growth of 17 of the 22 industry divisions led by manufacture of machinery and equipment except electrical products, which posted the highest annual increase of 76.4 percent.

On the other hand, five industry divisions posted decrements in production, with the manufacture of electrical equipment registering the fastest annual decline of 55.8 percent.

The agency also attributed the positive growth of VoPI in October to 14 divisions led by manufacture of machinery and equipment except electrical products, with an 81.8 percent annual growth rate.

On the contrary, eight industry divisions posted annual decreases led by the manufacture of electrical equipment, exhibiting the fastest yearly drop of 56.9 percent.

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