Philippines Manufacturing Production Falls Further In September

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In a report released on Wednesday, the Philippines National Statistics Office said that the volume of production index for the manufacturing sector dropped 12.4% year-on-year in September, slower than the downwardly revised 13.5% slump in the previous month. A fall in output was recorded across 13 manufacturing sub-sectors.

At the same time, the value of production index for the manufacturing sector dipped 15.4% annually, the same rate of decline as in the preceding month. A fall in output value was recorded across 15 sub-sectors.

On a monthly basis, the volume of production index expanded by 6.5% in September, while the value of production index grew 5.5%.

Meanwhile, the volume of net sales index slid 7.7% from the previous year in September, slower than the 11.5% fall in the previous month, while the average capacity utilization rate climbed to 81.9% from 81.7%.

In a report released on Wednesday, the Philippines National Statistics Office said that the volume of production index for the manufacturing sector dropped 12.4% year-on-year in September, slower than the downwardly revised 13.5% slump in the previous month. A fall in output was recorded across 13 manufacturing sub-sectors. (Market News Provided by RTTNews)