Manufacturing grew by 13.6% in March
FACTORY output in March 2018 rose 13.6 percent from a 12.3-percent expansion a year ago, driven mainly by the robust growth in nine production sectors, the Philippine Statistics Authority said Friday.
Based on the preliminary results of the Monthly Integrated Survey of Selected Industries, the printing industry posted a 107.6-percent growth for the month, backed up by double-digit expansion in seven major industries.
These are textiles (32.9 percent), food manufacturing (28 percent), miscellaneous manufactures (15.5 percent), petroleum products (15.3 percent), wood and wood products (15 percent), non-metallic mineral products (12.7 percent) and electrical machinery (11.9 percent).
“The positive performance of manufacturing is expected to continue in the first semester, amid the sustained economic growth momentum, increased net foreign direct investments, higher OFW cash remittances, and favorable merchandise trade,” Economic Planning Secretary Ernesto Pernia said in a statement.