Factory output drops in March
Credit to Author: ANNA LEAH E. GONZALES| Date: Tue, 07 May 2019 04:40:28 +0000
FACTORY output, both in volume and value, dropped in March compared to a year ago, the Philippine Statistics Authority (PSA) reported on Tuesday.
Results of the latest Monthly Integrated Survey of Selected Industries showed that the volume of production index (VoPI) dropped 9.2 percent from last year’s 11.0 percent expansion.
March’s VoPI also worsened from the 8.5 percent decline recorded in February.
The country’s value of production (VaPI) on the other hand, slipped by 5.4 percent, a reversal from the 10.5 percent expansion in March last year.
The VaPI in April, however, slightly improved from the 5.5 percent decline in February.
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