Factory output declined in February, a reversal of the double-digit increase a year ago, pulled down by slowdown in eight major sectors led by food manufacturing, the Philippine Statistics Authority said Friday.
The Volume of Production Index in the Monthly Integrated Survey of Selected Industries declined 8.5 percent in February, a turnaround from the annual two-digit growth of VoPI at 15.2 percent a year ago.
“The decrement in February 2019 of VoPI was mainly influenced by the decreases in eight major sectors led by food manufacturing (-19.5 percent), and non-metallic mineral products (-12 percent).
The Value of Production Index also dropped at an annual rate of 5.5 percent in February, a reversal of the 15.5-percent growth a year ago.
The PSA attributed the decline of VaPI in February to the decreases in the indices of four major sectors led by food manufacturing (-21.9 percent).
The average capacity utilization rate in February for total manufacturing was recorded at 84.3 percent. Fifty-five percent or 11 of the 20 major industries had at least 80 percent capacity utilization rates.
These were petroleum products (89.6 percent); basic metals (88.7 percent); non-metallic mineral products (86.4 percent); machinery except electrical (86.1 percent); food manufacturing (85.2 percent); chemical products (85.0 percent); electrical machinery (84.9 percent); paper and paper products (83.7 percent); rubber and plastic products (83.2 percent); wood and wood products (82.0 percent), and textiles(80.3 percent). Julito G. Rada
The proportion of establishments that operated at full capacity (90 percent to 100 percent) was more than one-fourth (26.0 percent) of the total number of establishments in February 2019.
About 55.7 percent of the total establishments operated at 70 percent to 89 percent capacity while almost one-fifth (18.3 percent) operated below 70 percent capacity.