FACTORY OUTPUT CONTINUES TO DECLINE - NSO
MANILA, September 27, 2009 (MANILA TIMES) FACTORY output in July dropped by double-digit due to weak production in almost all major sectors, the National Statistics Office (NSO) said.
Data from NSO showed that the volume of production index (VoPI) declined by 15.8 percent in July from the 8.1 expansion in the same period last year.
The agency blamed the weak production on the two-digit decreases observed in 18 major sectors, led by leather products, footwear and wearing apparel, furniture and fixtures, beverages, basic metals, petroleum products, transport equipment, electrical machinery, paper and paper products, wood and wood products, and nonmetallic mineral products.
On a monthly basis, VoPI inched up 1.8 percent in July.
“The most notable increases were the two-digit growth observed in paper and paper products, electrical machinery, petroleum products, and transport equipment,” NSO said.
It said 10.2 percent of the 100 manufacturing firms surveyed operated at full capacity in July, lower than the 10.6 percent the previous month. The average capacity utilization of these factories stood at 81.6 percent in July, up from 81.5 percent in June.
The NSO said sectors that posted more than 80-percent capacity utilization rates were basic metals, food, machinery except electrical, paper and paper products, leather products, electrical machinery, miscellaneous manufactures, chemical products, rubber and plastic products, and nonmetallic mineral products.
More than half, or 65.3 percent of the establishments operated at 70 percent to 89-percent capacity while 24.5 percent of the establishments operated below 70-percent capacity. The NSO said the value of production index (VaPI) also contracted by 18.8 percent in July from the 13.3-percent growth in the same period last year.
The agency said 15 out of 20 major sectors exhibited decreases in production value with petroleum products contributing the largest decrease of 48.7 percent, followed by leather products, basic metals, furniture and fixtures, footwear and wearing apparel, beverages, paper and paper products, transport equipment, electrical machinery and rubber and plastic products. DARWIN G. AMOJELAR
Chief News Editor: Sol Jose Vanzi
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