MANILA, Nov. 9 (Xinhua) -- The performance of manufacturing production in the Philippines sustained its growth in September, the Philippine Statistics Authority (PSA) said Thursday.
Based on the preliminary results of the Monthly Integrated Survey of Selected Industries, the PSA said the year-on-year value of production index (VaPI) and the volume of production index (VoPI) increased by 8.9 percent and 9.1 percent in September, respectively.
The PSA said the September VaPI was faster than its annual growth of 7.5 percent in the previous month. In September 2022, the VaPI recorded a double-digit annual increment of 12.6 percent.
The PSA attributed the annual VaPI growth in September to the increase in the manufacture of coke and refined petroleum products industry division, which contributed 49.7 percent to the yearly uptrend of VaPI for the manufacturing section in September.
Out of the 22 industry divisions for the manufacturing section, the manufacture of coke and refined petroleum products was the fifth industry division with the highest weight in the computation of VaPI.
On the other hand, the PSA said the VoPI for manufacturing registered a year-on-year increment of 9.1 percent in September, faster than the 6.8 percent annual growth in August.
In September 2022, VoPI recorded an annual increase of 4.5 percent.
The PSA said the higher annual growth of VoPI in September was mainly brought about by the annual increases in three industry divisions, namely the manufacture of coke and refined petroleum products; the manufacture of computer, electronic, and optical products; and the manufacture of basic metals.
Of the remaining 19 industry divisions, the PSA said five registered year-on-year increases in September, while 14 industry divisions posted annual declines during the period. The highest annual drop was observed in the manufacture of wearing apparel at 35.8 percent. ■
