Industrial production grew 13.6% in March, the Philippine Statistics Authority (PSA) reported this morning.
Preliminary results from the PSA’s Monthly Integrated Survey of Selected Industries (MISSI) showed that March factory output — as measured by the Volume of Production Index (VoPI) — was slower than the 23.7% reported in February but was faster than the 12.3% recorded last March 2017.
Growth in manufacturing was largely driven by surges in the production of printing (107.6%), textiles (32.9%), food manufacturing (28.0%), miscellaneous manufactures (15.5%),petroleum products (15.3%), wood and wood products (15.0%), non-metallic mineral products (12.7%), and electrical machinery (11.9%).
Average capacity utilization, which is the extent by which industry resources are being used in the production of goods, was estimated at 84.2% with twelve of the 20 sectors registering capacity utilization rates of 80% and above. — Lourdes O. Pillar