Business World
FACTORY OUTPUT moderated to a 10-month low in October, according to a report released by the National Statistics Office (NSO) on Thursday.
The NSO’s Monthly Integrated Survey of Selected Industries (MISSI) showed manufacturing output, as measured by the volume of production index (VoPI), grew by an annual 16.3% that month.
The October number was the lowest since December last year, when the index rose by 12.2%. Still, it was a reversal from the 6% slump recorded the same month a year ago.
Among the 20 major sectors included in the survey, 15 posted increases in production output, with double-digit growth led by miscellaneous manufactures (50.2 %), paper and paper products (26.3 %), publishing and printing (25.3 %), machinery except electrical (19.4%) and electrical machinery (17.6%).
Food manufacturing, an index heavyweight, rose by 10.6%, while beverage production climbed by 11.4%. Manufacturers of transport equipment, basic metals and textiles also reported double-digit gains.
Manufacturers of tobacco, footwear, wood, furniture and leather, meanwhile, slashed output.
The average capacity utilization - which measures the rate at which potential output levels are being used - stood at 83.5% in October. - Dionna Fe M. Falamig
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