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Decline in factory output picks up in February

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Decline in factory output picks up in February

THE country’s manufacturing output, both in volume and value, fell at a faster pace in February, the Philippine Statistics Authority (PSA) reported on Thursday.

Results of the statistics agency’s latest Monthly Integrated Survey of Selected Industries (Missi) showed that the country’s Volume of Production Index (VoPI) contracted by 43.6 faster than its 16.7-percent drop in January and a reversal from the 0.4 percent seen a year earlier.

The Value of Production Index (VaPI) shrank by 46.5 percent, worse than the 16.7-percent decline a month earlier and the 2.6-percent drop in February 2020.