Philippines Manufacturing Production Drops In February

The Volume of Production Index (VoPI) on a year-on-year basis dropped by 10.3 percent in February 2007, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).

Thirteen of the 20 major sectors reported declines in output, with two-digit decreases in textiles, machinery excluding electrical, tobacco, footwear and wearing apparel, petroleum products, beverages and rubber products.

A VoPI month-on-month slump of 10.2 percent in February 2007 was brought about by the shrinking output of petroleum products and rubber products.
 
The Value of Production Index (VaPI) for the manufacturing industry continued to fall as it posted a decrease of 8.3 percent in February 2007.

Eleven of the 20 major sectors posted decreases in production, with two-digit decreases shown in textiles, petroleum products, machinery excluding electrical, tobacco, footwear and wearing apparel, beverages and rubber products.

A month-on-month decline of 8.8 percent in February 2007 was due to the significant decreases in the petroleum products, rubber products and beverages sectors.

A VoPI month-on-month drop of 10.2 percent in February 2007 was brought about by the shrinking output of petroleum products and rubber products.

Average capacity utilization in February 2007 for total manufacturing was estimated at 79.8 percent. Sectors that registered more than 80% capacity utilization rates included: machinery excluding electrical, electrical machinery, paper and paper products, petroleum products, miscellaneous manufacturing, leather products, basic metals, rubber products, food manufacturing and chemical products.

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