Philippine manufacturing output recovers in April

2021-06-08 11:35:42 GMT2021-06-08 19:35:42(Beijing Time) Xinhua English

MANILA, June 8 (Xinhua) -- The performance of manufacturing production in the Philippines rebounded in April, the Philippine Statistics Authority (PSA) said on Tuesday.

Based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI), the PSA said the year-on-year value of production index (VaPI) and the volume of production index (VoPI) rebounded, increasing 154.3 percent and 162.1 percent in April, respectively.

The PSA said the VaPI for manufacturing rebounded as it posted an annual increase of 154.3 percent, from a -74.2 percent yearly drop in the previous month.

The year-on-year growth rate in April "was the first positive growth since April 2019 and the highest annual increase in the 2018-based data series," the PSA said in a statement.

The PSA said the increment in VaPI was brought about by the positive growth rates of 20 industry divisions, 14 of which posted three-digit annual growth rates with the manufacture of basic metals as the highest at 729.1 percent.

The VoPI also went up by 162.1 percent in April, recovering from a negative 73.3 percent annual decline in the previous month.

Of the 22 industry divisions, the PSA said 20 showed positive growths, 15 of which recorded three-digit annual increases. The fastest growth rate was registered in the manufacture of basic metals at 687.5 percent. Enditem

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