Factory output increases 2.8%
Factory production recovered in August from a decline in July on higher output of construction-related materials, the National Economic and Development Authority said Tuesday.
Results of the Monthly Integrated Survey of Selected Industries conducted by the Philippine Statistics Authority showed the volume of production index increased 2.8 percent in August, compared to the 3.5-percent slump in July.
The value of production index also went up 2.4 percent in August, following a drop of 2 percent in July.
Neda Undersecretary Rolando Tungpalan said the growth in manufacturing was expected to continue to improve in the fourth quarter, with construction products as the key drivers for the sector.
“Sustained infrastructure development, translating to increase in public construction expenditure, is anticipated not only to increase the growth of the manufacturing sector but also to support the
continuous growth of the economy,” he said.