Fri Sep 06 16:23:00 UTC 2024: – Manufacturing output in the Philippines accelerated in July according to the Philippine Statistics Authority
– Value of Production Index (VaPI) increased by 4.7 percent and Volume of Production Index (VoPI) increased by 5.3 percent
– Year-to-date growth for both indices remained positive at 1.3 percent and 2.1 percent
– Growth in the manufacture of computer, electronic, and optical products drove the increase in VaPI
– Fourteen industries posted higher growth while eight declined
– Furniture manufacturing recorded the fastest growth at 40.7 percent
– Basic metals had the biggest drop at -19.1 percent
– Average capacity utilization was slightly higher at 75.6 percent
– 30.2 percent of establishments operated at full capacity, 41.5 percent operated at 70-89 percent capacity, and 28.4 percent operated below 70 percent capacity.

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