MANILA, Philippines -Local factory output inched up in November 2023 amid brisk production to meet the seasonal surge in demand during the holiday season. A monthly survey of selected industries showed the Philippines’ Volume of Production Index (VoPI), a measure of manufacturing output, grew 1.9 percent year-on-year in November, the Philippine Statistics Authority (PSA) reported on Tuesday. That marked a recovery after VoPI significantly slowed to 1.5 percent in October. The results of PSA’s survey is consistent with the report of S&P Global, which showed the country’s Purchasing Managers’ Index (PMI) — another gauge of factory output — posted its best growth in 10 months in November after demand jumped to an eight-month high. READ: Factory output hits 10-month high…
Published Date: 2024-01-09
Source: Inquirer
Categories: Business, Agriculture and Forestry, International Business and Trade, Import and Export, Marketplaces
