Philippine manufacturing output sustains growth in July

MANILA, Sept. 8 (Xinhua) -- The performance of manufacturing production in the Philippines sustained its growth in July, the Philippine Statistics Authority (PSA) said on Thursday.

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 10.6 percent and 2.5 percent in July, respectively.

The PSA attributed the VaPI growth in July to the positive growth of 17 of the 22 industry divisions led by the manufacture of machinery and equipment except electrical products, which posted the highest annual increase of 32.1 percent.

On the other hand, five industry divisions posted decrements in production, with the manufacture of electrical equipment registering the fastest annual decline of 51.2 percent.

The agency also attributed the positive growth of VoPI in July to the positive growth of 14 divisions led by the manufacture of fabricated metal products, except machinery and equipment, with a 30.3 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 52.7 percent.