Oliver 14 0 0 4 min to read

In October 2022, manufacturing output and value will grow.

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According to the Monthly Integrated Survey of Selected Industries (MISSI) published on Wednesday by the Philippine Statistics Authority (PSA), the manufacturing sector in the Philippines experienced faster growth rates in volume and value indices in October 2022.

In contrast to the previous month’s growth of 4.1 percent, the volume of production index (VoPi) in October of this year increased by 5.1 percent from a year earlier.

The manufacturing of machinery and equipment, with the exception of electrical, saw the largest increase in production volume in October, rising by 81.8 percent, leading 14 out of 22 sub-industries to report increases in factory output.

Beverages, at 61.7 percent, chemicals, and chemical products, at 39.5 percent, fabricated metal products, excluding machinery and equipment, at 35.7 percent, wood, bamboo, cane, and rattan articles and related products, at 27 percent, transport equipment, at 21.3 percent, other manufacturing, and repair and installation of machinery equipment, at 17.2 percent, and paper and paper products, at 10.2 percent, are other industry divisions that saw double-digit growth in output.

Electrical equipment, basic metals, furniture, printing and copying of recorded media, wearing clothes, food items, other non-metallic mineral products, and tobacco products are some industries that had a fall in output in October.

The value of the production index (VaPi), on the other hand, increased by 12.7 percent from September to October of this year.

“The annual growths demonstrated by 17 of the 22 industry categories contributed to the increase of VaPI. The manufacturing of machinery and equipment, except electrical equipment, had the highest annual growth rate of these in October 2022, according to the PSA.

Philippine factories’ average capacity utilization rate increased from 71.5 percent in September to 72.4 percent in October 2022.

Twenty of the 22 industry divisions had an average capacity utilization rate of more than 60%, according to PSA.

Manufacturing of computer, electronic, and optical products (80.3%), manufacturing of machinery and equipment other than electrical equipment (80.1%), and manufacturing of clothing (80.1%) had the greatest average capacity utilization for the month of October (79.3 percent).

Cebuano Cebuano English English Filipino Filipino

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