RP factory output in April plummets

by Kobakila News

MANILA (June 25) — Factory output declined for the sixth straight month in April at a faster rate, the National Statistics Office reported.

In its latest Monthly Integrated Survey of Selected Industries, the National Statistics Office said the Volume of Production index (VoPI) contracted by 15. 5 percent, a deeper slump compared to the revised 10.3-percent dip recorded in March.

The lower output began in November last year, when the index fell by 5.5 percent, followed by the 14.2-percent contraction in December.

“VoPI continued to fall as it posted a year-on-year decrease of 15.5 percent in April 2009. Except for tobacco products, all sectors reported reductions in volume of production,” NSO said.

The NSO measurement of factory output tracks the production of 14 sectors.

The sectors that posted double-digit decline were leather products, furniture and fixtures, transport equipment, footwear and wearing apparel, paper and paper products, basic metals, textiles, machinery except electrical, petroleum products, miscellaneous manufactures, beverages, non-metallic mineral products, chemical products, and wood and wood products.

 

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

X