The country’s factory output volumes and their values further contracted in October as 15 industries posted lower year-on-year production, the Philippine Statistics Authority (PSA) reported on Friday.
The PSA’s Monthly Integrated Survey of Selected Industries for October showed the volume of production index (VoPI) dropped 11.3 percent while the value of production index (VaPI) slid by a faster 14.2 percent.
A proxy for factory output, VoPI’s contraction already narrowed to 8.6 percent in September.
“Contributory to the faster decline of VoPI for the manufacturing sector in October were the reductions in the indices of 15 industry groups. The industry groups that led the contrac…
Keep on reading: 15 industries drag down PH’s recovering factory output