(Photo by PNA)
MANILA – Philippine factory output expanded at a faster pace in August, driven largely by stronger production of computer, electronic and optical products, data from the Philippine Statistics Authority (PSA) showed.
Results of the Monthly Integrated Survey of Selected Industries showed that the value of production index (VaPI) rose by 10.8 percent in August, up from 9.9 percent in July and well above the 1.9 percent growth recorded in August last year.
The PSA attributed the faster growth mainly to the manufacture of computer, electronic and optical products, which surged by 30.1 percent from 15.8 percent in July.
The volume of production index (VoPI) likewise accelerated to 11.8 percent in August from 6.7 percent in the previous month. A year earlier, VoPI growth stood at 1.3 percent.
The faster increase was driven by stronger output in computer, electronic and optical products, transport equipment, and basic metals.
Meanwhile, the manufacturing sector’s average capacity utilization rate slightly eased to 78.7 percent from 78.8 percent in July.
All industry divisions posted capacity utilization rates above 65 percent.
The highest utilization rates were recorded in tobacco products at 85 percent, coke and refined petroleum products at 83.9 percent, and computer, electronic and optical products at 83.3 percent.
