MANILA, Philippines—Factory output has reverted to a 162.1 percent growth year-on-year in April due to low-base effects even as the closure of oil refineries remained a drag to domestic manufacturers’ total production volume.
The Philippine Statistics Authority’s (PSA) monthly integrated survey of selected industries (Missi) report for April released on Tuesday (June 8) showed the jump in the volume of production index (VoPI)—a proxy for factory output—reversed the 73.3-percent drop last March as well as the 64.8-percent decline in April 2020.
The PSA said 20 of the 22 manufacturing sectors posted year-on-year increases in production volume, including the …
Keep on reading: Signs of life in pandemic: PH factory output grows 162.1 percent