Industry output grows double-digit in Nov.’16

MANILA—Industry output increased by double-digit in November 2016, driving production value to grow at the same pace, the Philippine Statistics Authority (PSA) reported Tuesday.

In its Monthly Integrated Survey of Selected Industries (MISSI) for the month of November 2016, volume of production index (VoPi) jumped by 14.6 percent from 4.4 percent in November 2015.

The industries that registered significant expansion in VoPi for the said period were petroleum products, up by 80.3 percent; transport equipment, up by 40.4 percent; food manufacturing, up by 24.6 percent; rubber and plastic products, up by 16.1 percent; tobacco products, up by 11.1 percent; and beverages, up by 10.3 percent.

However, huge decline in VoPi were recorded in leather products, down by 88.4 percent; fabricated metal products, down by 26.7 percent; and printing, down by 15.2 percent.

On the other hand, value of production index (VaPi) rebounded in November last year to 10.6 percent from a decrement of 2.2 percent in November 2015.

Manufacturing of petroleum products, transport equipment, food manufacturing, beverages, rubber and plastic products, tobacco products, and textiles have driven growth in VaPi in November last year.

Average capacity utilization rate in November last year also slightly improved to 83.8 percent from its previous month’s rate of 83.7 percent.

“Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates,” the PSA noted.

Industries that utilized their manufacturing facilities at 80 percent and above were petroleum products (88.6 percent), basic metals (88.3 percent), non-metallic mineral products (86.3 percent), machinery except electrical (85.4 percent), food manufacturing (85.1 percent), chemical products (85 percent), electrical machinery (84.5 percent), paper and paper products (83.5 percent), rubber and plastic products (83 percent), wood and wood products (80.9 percent), and printing (80.4 percent).