Factory output posts faster growth in June
Philippine manufacturing output grew by 10.1 percent in June, marking a faster pace compared to the previous month. The growth was primarily driven by increased production in the petroleum, food, and transport equipment sectors.
Why it matters
This data serves as a key indicator of the Philippines' industrial health and overall economic momentum.
MANILA, Philippines - Philippine manufacturing output registered a faster growth rate in June from the previous month, driven by higher production of petroleum products and food items, according to the Philippine Statistics Authority.
Results of the PSA's Monthly Integrated Survey of Selected Industries showed that the Volume of Production Index (VoPI) recorded a faster year-on-year increase of 10.1 percent in June compared to the previous month's 9.1 percent.
The VoPI growth in June is also higher than the 2.3-percent increment in the same month last year.
The faster growth in VoPI was driven by the manufacture of the following: coke and refined petroleum products, food and transport equipment.
In particular, the manufacture of coke and refined petroleum products registered a faster annual increase of 84.5 percent in June from the previous month's 73.3 percent.
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