The local manufacturing output increased more than double in September this year owing to strong production of coke and refined petroleum products.

In its Monthly Integrated Survey of Selected Industries, the Philippines Statistics Authority (PSA) said the country’s volume of production index (VoPI) jumped 124 percent in September. The index slid 56.7 percent in the same period last year.

On a month-on-month basis, VoPI slowed from the 544.6 percent growth registered in August.

The PSA said increase in VoPI was brought about by the positive growth rates of 13 of the 22 industry divisions.

Of these, manufacture of coke and refined petroleum products was the major contributing factor with 739.7 percent growth. On the contrary, the remaining nine industry divisions recorded decreases led by manufacture of tobacco products with -52.8 percent annual rate.

In September, only 110 of the 476 manufacturing firms surveyed operated at full capacity. Average capacity utilization of these factories stood at 66.5 percent.

Moreover, 98 of the establishments operated at 80 percent to 89 percent capacity and 183 of the respondents operated below 70 percent capacity.

The value of production index (VaPI) during the period also improved but at a slower rate as it posted a 122.7 percent growth from 527.3 percent in the previous month.

The index declined 59 percent in September last year.

The PSA said growth in VaPI was contributed by the increases in 13 of divisions that registered positive annual growth rates.

Among these, the top contributor was manufacture of coke and refined petroleum products with 890.1 percent annual expansion rate.

On the other hand, the remaining nine industry divisions recorded decreases with manufacture of tobacco products registering the fastest annual decline of -52.6 percent.

Volume of net sales year-on-year increased by 8.2 percent, while value continued to grow at a slower rate of 7.6 percent.

Source: Manila Bulletin (