Data from the Philippine Statistics Authority (PSA) showed that the increase in food production in April lifted the manufacturing output during the month in volume and value, reversing the contraction in Marcy.
"The annual increase of VaPI in April 2024 from an annual drop in March 2024 was mainly attributed to the annual increase in the manufacture of food products at 7.4% during the month from an annual decrease of 12.5% in March 2024," said the PSA.
The PSA released its latest Monthly Integrated Survey of Selected Industries, showing that the value of the production index (VaPI) grew by 5.9% in April from 6.8% the previous month.
Other primary contributors to the annual increment of VaPI during the month were the yearly increases in the manufacture of transport equipment at 6.6% from -11.4% in the previous month and in the manufacture of electrical equipment at 40.9% during the month from an annual decrease of 4.3% in March 2024.
Meanwhile, the volume of production index (VoPI) grew by 6.7%, a turnaround from the -5.8% seen in March.
The PSA said the growth in VoPI in April was due to the annual increase in the manufacture of food products, which was 6.8% from 13.2% in March 2024.
Other primary contributors to the uptrend in VoPI were the annual increases noted in the manufacture of transport equipment, at 5.1% in April from an annual drop of 12.0% in the previous month, and in the manufacture of fabricated metal products, except machinery and equipment, at 32.3% from -3.1% in March.
The PSA, meanwhile, said that based on responding establishments, the average capacity utilization rate for manufacturing in April 2024 was 75.2%, up from 75.3% in the previous month.
In April 2023, the average capacity utilization rate was 72.5%.
"All industry divisions reported capacity utilization rates of more than 60.0 percent during the month," said the PSA.
The top three industry divisions in terms of reported capacity utilization rate were the manufacture of other non-metallic mineral products (82.1%), the manufacture of furniture (81.9%), and the manufacture of textiles (80.1%).
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