Manufacturing output continued to post a three-digit increase in September, although at a significantly slower pace versus the previous month, data released by the Philippine Statistics Authority (PSA) showed.
According to the latest Monthly Integrated Survey of Selected Industries, the volume of production index (VoPI) expanded by 124 percent in September, reversing the 56.7 percent decline in the same period last year which was due to the impact of the coronavirus pandemic.
The growth in the VoPI in September, however, was much slower than the 533.6 percent hike registered in the previous month.
The PSA said the increase in VoPI was brought about by the positive growth rates of 13 industry divisions.
Of these, manufacture of coke and refined petroleum products was the major contributing factor with 739.7 percent growth.
On the contrary, the remaining nine industry divisions recorded decreases led by manufacture of tobacco products with a decline of 52.8 percent.
The Value of Production Index (VaPI) for manufacturing posted a three-digit annual rate of 122.7 percent in September 2021, also reversing the decline of 59 percent recorded a year ago.
The increase in September was likewise slower than the 527.3 percent expansion recorded in August.
The PSA said the growth in VaPI for September 2021 was contributed by the increases in 13 of the 22 industry divisions that registered positive annual growth rates.
Among these, the top contributor was manufacture of coke and refined petroleum products with 890.1 percent annual growth rate.
On the other hand, the remaining nine industry divisions recorded decreases with manufacture of tobacco products again registering the fastest annual decline of 52.6 percent.
Meanwhile, the average capacity utilization rate for the manufacturing sector in September 2021 improved to 66.5 percent, from 66.2 percent in the previous month.
There were 20 out of 22 industry divisions with more than 50 percent average capacity utilization rate, led by manufacture of furniture, of other non-metallic mineral products and of tobacco products.
The proportion of establishments that operated at full capacity was 23.1 percent of the total number of responding establishments.
The 38.5 percent operated at 70 to 89 percent capacity, while 38.4 percent operated below 70 percent capacity. – Angela Celis
