Manufacturing grows by 25.3%, PSA reports
A growth of 25.3 per cent was posted by the country’s manufacturing output, according to the results from the November 2021 Monthly Integrated Survey of Selected Industries (MISSI).
The Philippine Statistics Authority (PSA) data showed the Volume of Production Index (VoPI) growth in November was higher than the 25.2 percent in October 2021 and the contraction of 21.8 percent in VoPI in November 2020.
The growth in the VoPI was attributed to the manufacturing of refined petroleum products, wood, bamboo, cane, rattan articles and related products.
Meanwhile, PSA data showed the average capacity utilization rate for manufacturing slightly increased
Based on responding establishments, PSA said the average capacity utilization rate for the manufacturing sector in November 2021 was reported at 67.4 percent, from 67.2 percent in the previous month.
