MANUFACTURING sustained its growth in January as the volume of production index expanded 9.3 percent, albeit slower than the 35.8-percent increase a year ago, the Philippine Statistics Authority said Friday.
The National Economic and Development Authority said the increased production of basic metals, transport equipment, petroleum products and food manufactures drove manufacturing output in January.
“The outlook of industry firms for the first quarter of 2017 remains optimistic as business expansion, higher energy sales, and implementation of construction projects are anticipated,” Economic Planning Secretary Ernesto Pernia said in a statement.
Meanwhile, the manufacturing Value of Production Index for January 2017 increased at a slower rate of 11.6 percent, compared with last year’s 25.9 percent.