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MANILA - Factory output slowed down at the start of the third quarter mostly because of weak production of electrical machinery, chemical and non-metallic mineral products, according to the National Statistics Office.
In its Monthly Integrated Survey of Selected Industries, the NSO said the volume of production index grew at a slower rate of 4.7 percent in July from 6.8 percent a year ago and 11.2 percent in June.
Month-on-month, VoPI also dropped sharply to 0.9 percent in July from the 12.4 percent in June.
This was brought about by the reduced production of 11 major sectors, with two-digit declines noted in tobacco products (-17.9 percent), wood and wood products (-16.3 percent), publishing and printing (-15.2 percent) and chemical products (-11.4 percent).
The average capacity utilization of polled factories stood at 83.3 percent in July, hardly unchanged from 83.4 percent last June.
The NSO said sectors that posted more than 80-percent capacity utilization rates were leather products, petroleum products, food manufacturing, basic metals, machinery except electrical, electrical machinery , non-metallic mineral products, rubber and plastic products, chemical products, miscellaneous manufactures and footwear and wearing apparel.
The proportion of establishments that operated at full capacity stood at 18.7 percent in July from 18.4 percent in June.
About 57.7 percent of the establishments operated at 70 to 89 percent capacity while 23.6 percent below 70 percent capacity.
The value of production Index also fell to 4.6 percent in July from 8.7 percent in June. In July last year, the VaPI was higher at 6.7 percent.
On a monthly basis, VaPI dropped to 1.6 percent in July from its two-digit growth of 10.1 percent in the previous month.
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