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MANILA - Factory output in May increased at its second slowest pace so far this year.
In its Monthly Integrated Survey of Selected Industries, the National Statistics Office said the volume of production index inched up 3.1 percent year-on-year in May, down from the 3.3 percent in April.
The NSO said the growth last May stemmed from "the three-digit growth in production output of footwear and wearing apparel (124.7 percent), transport equipment (118.2 percent) and furniture and fixtures (103.4 percent)."
On a month-on-month basis, the VoPI rebounded with a growth of 4.9 percent from April's contraction of 9.1 percent.
The NSO said that among the 16 major sectors that reported increases in production, five major sectors contributed to growth.
These sectors were footwear and wearing apparel with 23.1 percent; fabricated metal products, 22.2 percent; petroleum products, 19.2 percent; machinery except electrical, 13.8 percent; and leather products, 12.5 percent.
The average capacity utilization in May stood at 83.5 percent, as the following sectors registered above-80 percent utilization rates: food manufacturing, 86.8 percent; petroleum products, 86.8 percent; basic metals, 85.6 percent; electrical machinery, 84.6 percent; machinery except electrical, 84.6 percent; and non-metallic mineral products, 84.3 percent.
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