Manufacturing loses steam in Philippines

The Philippines’ manufacturing output further dipped in November 2017, partly due to the lower production of tobacco and food, the government said on Wednesday. Citing the Monthly Integrated Survey of Selected Industries of the Philippine Statistics Authority, the National Economic and Development Authority said the manufacturing sector’s volume of production index (VoPI) contracted 8.1 percent in November 2017. It said the value of production index (VaPI) also contracted 9.3 percent in November 2017, leaving a three-month moving average of VoPI and VaPI of 2.5 percent and 1.5 percent, respectively.