TODAY'S BUSINESS HEADLINES

France's Accor to build six more hotels in the Philippines through 2017 24-Nov-14, 12:10 AM | Krista Angela M. Montealegre, InterAksyon.com

Third-quarter PH economic data seen weighing on stock market this week 23-Nov-14, 11:55 PM | Krista Angela M. Montealegre, InterAksyon.com

Megawide close to bagging 8990 Holdings' two property projects 23-Nov-14, 11:31 PM | Krista Angela M. Montealegre, InterAksyon.com

As non-gaming section expands, Solaire casino operator seeks profitable balance 23-Nov-14, 11:18 PM | Krista Angela M. Montealegre, InterAksyon.com

President Aquino orders rebidding of Cavite-Laguna Expressway project 23-Nov-14, 9:29 PM | Darwin G. Amojelar, InterAksyon.com

Factories ramp up production in Nov

InterAksyon.com means BUSINESS

MANILA - Factories in the Philippines ramped up production last November, led by the chemical products as well as furniture and fixtures industries.

In a report, the National Statistics Office (NSO) said the volume of production index (VoPI) climbed to 21.3 percent two months ago from 20.7 percent in October.

Chemical products makers increased output by 203.1 percent, whereas furniture and fixtures makers hiked production by 147.3 percent.

NSO said double-digit growth was also recorded in machinery except electrical, tobacco products, leather products, basic metals, rubber and plastic products, beverages.

Month-on-month, the VoPI however increased by a marginal 0.8 percent.

The value of production index (VaPI) also continued to pick up, reporting a year-on-year increase of 16.2 percent last November in spite "of the catastrophe that befell the country during this month."  

Last November, Typhoon 'Yolanda' devastated the central Philippines, with the toll reaching P250 billion.

NSO said the average capacity utilization of factories stood at 83.4 percent, with more than half of the 20 key industries registering capacity use of at least 80 percent.

The proportion of establishments that operated at full capacity stood at 22.9 percent, while 54.7 percent operated at 70-89 percent capacity.

 

OTHER BUSINESS STORIES
BREAKING NEWS