The country’s manufacturing activity sustained its double-digit growth pace for the sixth straight month in June, the government reported this afternoon.
Preliminary results from the Philippine Statistics Authority showed factory output, as measured by the Volume of Production Index, increasing 18% year on year in June, slower compared to 21% logged in the previous month but was a turnaround from June 2017’s 0.1% contraction.
Notable gains were observed in printing (116.3%), petroleum products (60.7%), textiles (36.7%), miscellaneous manufactures (21.0%), rubber and plastic products (20.7%), machinery except electrical (20.3%), electrical machinery (17.1%), food manufacturing (14.7%) and beverages (10.1%).
On the other hand, sectors which saw contractions in June were: tobacco products (-52.8%), wood and wood products (-14.6%), transport equipment (-9.3%), furniture and fixtures (-2.8%), footwear and wearing apparel (-2.2%) and chemical products (-1.4%).
Capacity utilization rate, which represents how much of factory capacity is in use, averaged 84.3%, with 12 of the 20 sectors registering capacity utilization rates of at least 80%. — Jochebed B. Gonzales

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