Nov manufacturing output
- -
The value of production index -2.2 percent in the same comparable period, and from the revised 6.9 percent in the previous month.
“Among the 10 major sectors report increases, namely: petroleum products -
In a separate statement, Socioeco registered double-digit growth in both production and sales due to favorable farming conditions.
The food subsector registered a volume of production rate of 24.6 percent, and a value of production rate of 26.7 percent from a 10-percent decline in both volume and value last year.
The production value of petroleum products has been growing steadily for three consecutive months, following consistent declines since 2015. The petroleum subsector posted 80.3 percent and 68.8 percent growth rates for volume and value of production, respectively.
posted 40.4 percent growth in production volume and 39.1 percent growth in production value. “This growth was supported by local demand for vehicles such as passenger cars, light trucks and
Manufacturing, together with strong consumption and investment will product to grow by 6.8 percent to 7.4
It should bring the full-year growth to 7 percent, or the upper end of the economy grew by 7.1 percent in the
sector is expected to exhibit stronger of increased consumer demand during the Christmas season of 2016 compared with 2015.
“Looking ahead, we see the sector public investments,” he said.
- ment and strong remittances will also continue to drive domestic demand, and will boost manufacturing
continue to pursue efforts that boost the country’s manufacturing sector
“One is through encouraging innovation in manufacturing so that we remain competitive with the rest of the world. Second, we need to minimize bureaucratic procedures and regulatory barriers to attract investments and to reduce the cost of doing business and expand production capacity,” he said
“Lastly, we must make sure that the technical skills of our labor force are in line with industry needs, and that opportunities to enhance technical competencies are available to people