Factory output rose 9.9 percent in September following the increase in the production of capital goods on strong domestic demand and stable macroeconomic policies, the National Economic and Development Authority said Thursday.
“This is a sign that our domestic economy is robust and resilient, despite the slow global economic recovery,” said Economic Planning Secretary Ernesto Pernia.
The Volume of Production Index rose 9.9 percent, according to the Philippine Statistics Authority’s Monthly Integrated Survey of Selected Industries for September 2016, pushing the three-month moving average to 11.6 percent. This is a leap from the 3 percent registered growth in September 2015.
“This signals the manufacturing sector’s recovery and expansion from its weak performance last year,” said Pernia.