Manufacturing grows in April

FACTORY output grew in April as higher commodity prices, strong consumer demand, and a weaker exchange rate encouraged manufacturers to produce more, the National Economic and Development Authority (Neda) said.

The latest Monthly Integrated Survey of Selected Industries (MISSI) of the Philippine Statistics Authority (PSA) showed a key barometer in measuring the output of the manufacturing sector, the Volume of Production Index (VoPI) at 31.1 percent in April 2018, significantly higher than the 0.1 percent growth in the previous year.

The Value of Production Index (VaPI) registered a growth of 31.7 percent in April 2018, a turnaround from the 1.6 percent decline in 2017.

This made the threemonth moving average growth rate of both indexes at 23.3 and 23.0 percent, respectively.

Growth in production of food and export-oriented products (processed food, chemicals, fabricated metals, leather, petroleum, non-metallic minerals, electrical and non-electrical machinery, among others) contributed to the gains.

Higher government spending on infrastructure in the months leading to April helped sustain growth in constructionrelated manufactures, which continued its upward trend given higher demand for non-metallic mineral products, particularly cement.