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.