Factory production increased 10.8 percent year-on-year in April, indicating a strong demand at the start of the second quarter, the National Economic and Development Authority said Friday.
The Philippine Statistics Authority said in its monthly integrated survey of selected industries the growth in the volume of production index in April accelerated from 8.9 percent in March and 1.8 percent a year ago.
The value of production index also rebounded 6.8 percent in April 2016 from a 6.4-percent decline in the same month last year.
“Manufacturing output grew stronger at the onset of the second quarter, driven by robust domestic activities during the election season,” said Economic Planning Secretary Emmanuel Esguerra.
“A bullish business outlook is expected for the second quarter. Higher production volume is anticipated across manufacturing sub-sectors due to the typical increase in demand during summer season and enrollment periods,” Esguerra said.