Based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI), the PSA said the year-on-year value of production index (VaPI) and the volume of production index (VoPI) increased by 249.5 percent and 265.0 percent in May, respectively.
The year-on-year growth rate in May "was the second positive growth since April 2019 and the highest annual growth in the 2018-based data series," the PSA said in a statement.
The PSA said the sharp increases in most of the 18 industry divisions that registered positive annual growth rates led to the VaPI's upward trend. The manufacture of coke and refined petroleum products was among the top contributor with 1,472.7 percent yearly growth.
On the other hand, the PSA said only four industry divisions contracted led by the manufacture of tobacco products which declined by 69.3 percent.
The VoPI also posted an annual rate of 265.0 percent in May, faster than the 155.6 percent increase recorded in April.
The PSA said the expansion in the VoPI for the manufacturing sector was observed in 18 out of the 22 industry divisions. The manufacture of coke and refined petroleum products registered the fastest growth at 1,366.1 percent, it added.
On the contrary, the PSA said four industry divisions recorded decrements with the manufacture of tobacco products registering the fastest annual decline of 68.7 percent.
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