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Business
Factory output up 22.2 percent in October

Philippine factory output in October this year, as measured by Volume of Production index (VoPi), posted a two-digit annual increment of 22.2 percent, according to the results of the Monthly Integrated Survey of Selected Industries

(Missi) released by the National Statistics Office on Friday.

“High production outputs were reported by seven out of 13 major sectors led by footwear and wearing apparel, registering a three-digit increase of 128.9 percent,” statistics office stated.

The survey said that other major sectors with two-digit increases were observed in the electrical machinery, basic metals, food manufacturing, wood and wood products, transport equipment and machinery except electrical. Month-on-month, the VoPI grew by 4.7 percent in October 2012.

On the other hand, total manufacturing as measured by the Value of Production Index (VaPI) climbed to 18.9 percent in October 2012.

The Missi said that this was caused by the significant expansion in the value of production of footwear and wearing apparel, with a three-digit increase of 120.7 percent, followed by other four major sectors that posted two-digit increments such as electrical machinery, basic metals, food manufacturing and transport equipment. On a monthly basis, VaPI recorded an increase of 3.7 percent in October 2012. The Missi further said that the average capacity utilization in October for total manufacturing stood at 83.4 percent.
 
Capacity utilization
The survey added that 20 major sectors registered more than 80-percent capacity utilization rates led by petroleum products, basic metals, food manufacturing, electrical machinery, machinery except electrical, non-metallic mineral products, rubber and plastic products, chemical products, paper and paper products, miscellaneous manufactures and wood products. The proportion of establishments that operated at full capacity was recorded at 19.9 percent in October and about 56.2 percent of the establishments operated at a 70-percent to 89-percent capacity, while 23.9 percent of the establishments operated below 70-percent capacity.

Meanwhile, the Volume of Net Sales Index (VoNSI) continued to gain at a faster rate of 10.1 percent in October 2012, compared with the previous month’s growth of 4.1 percent. Footwear and wearing apparel contributed significantly to the increase with 135.3 percent growth. Month-on-month, VoNSI also went up by 8.6 percent in October.

On the other hand, Value of Net Sales Index (VaNSI), accelerated as it posted an annual growth of 7.1 percent in October. This was attributed to the increase in sales value of the eleven major sectors led by footwear and wearing apparel, with a three-digit growth of 126.9 percent. Month-on-month comparison, VaNSI continued to grow at 7.6 percent in October 2012.

Refer http://www.manilatimes.net/index.php/business/top-business-news/37407-factory-output-up-22-2-percent-in-october

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  • Published on 26 September 2012 [...]

Factory output up 22.2 percent in October


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