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Philippine manufacturing output further declines in November 2019

Xinhua News,MANILA
2020-01-07 18:46

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MANILA, Jan. 7 (Xinhua) -- The Philippine Statistics Authority (PSA) said on Tuesday that the country's performance of manufacturing production continued to decline for the 11th consecutive month in November 2019.

Based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI), PSA chief Undersecretary Claire Dennis Mapa said in a report that year-on-year volume of production index (VoPI) and value of production index (VaPI) declined by 6.1 percent and 5.8 percent, respectively.

According to Mapa, the VoPI dropped by 6.1 percent in November 2019. "During the same period of the previous year, its annual growth rate was 1.9 percent," he added.

Mapa said the decline in VoPI was mainly influenced by the decreases in the indices of eight major industry groups led by furniture and fixtures which declined 41.2 percent; basic metals, -29.5 percent; miscellaneous manufactures, -22.1 percent; petroleum products, -21.8 percent; transport equipment, -16.7 percent; and electrical machinery, -13.0 percent.

Mapa further said VaPI continued to decline, which reflected an annual drop of 5.8 percent in November 2019.

During the same month of the previous year, he said the VaPI increased by 2.3 percent.

Among the nine major industry groups that reported decreases in VaPI, Mapa said five major industry groups had two-digit decreases, namely: basic metals, -36.2 percent; petroleum products, -25.6 percent; miscellaneous manufactures, -20.7 percent, transport equipment, -20.6 percent; and electrical machinery, -16.6 percent.
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