Factory output drops in Dec

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 05 Feb 2020 02:01:32 +0000

FACTORY output in December 2019, both in volume and value, contracted further from the negative growths posted in November and a year ago, the Philippine Statistics Authority (PSA) reported on Wednesday.

According to the results of the PSA’s latest Monthly Integrated Survey of Selected Industries, the country’s volume of production index (VoPI) declined by 10.1 percent in December, faster than the 7.8-percent decrease in November as well as from the 9.3-percent drop posted a year ago.

The value of production index (VaPI) also eased further by 9.5 percent from a 7.4-percent fall in November and from the 9.1-percent contraction recorded a year earlier.

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