ZCZC
BCN-43
PHILIPPINE-ECONOMY-MANUFACTURING
Philippine manufacturing expands in July
MANILA, Sept. 6, 2018 (BSS/Xinhua) – Philippine manufacturing expanded in
July, with double-figure growth in both the volume of production index (VoPI)
and value of production index (VaPI), the government said on Wednesday.
Citing the Monthly Integrated Survey of Selected Industries (MISSI) of the
Philippine Statistics Authority (PSA), the National Economic and Development
Authority (NEDA) said the VoPI for manufacturing expanded 11.8 percent in
July 2018, higher than the 5.1 percent recorded in July 2017.
The authority said seven of the 14 major sectors that pulled-up the VoPI
include fabricated metal products, petroleum products, textiles, beverages,
miscellaneous manufactures, basic metals and machinery except electrical.
The authority also said the VaPI for manufacturing continued to increase,
registering a 12.2 percent increase in July 2018 compared with the 6 percent
recorded in July 2017.
Socioeconomic Planning Secretary Ernesto Pernia said he expects
manufacturing growth to be sustained throughout the third quarter of 2018
after the sector’s performance yielded positive results in July.
“We expect this strong performance of the manufacturing sector this year
as we continue to see stable domestic demand, as well as robust investments
due to heightened infrastructure projects and consumer spending,” Pernia
added.
MISSI is a monthly report that monitors the production, net sales,
inventories, and capacity utilization of selected manufacturing
establishments to provide flash indicators on the performance of the
manufacturing sector.
BSS/XINHUA/HR/1435