Factory output rose 14.6 percent in November 2016 on the back of higher production of petroleum products, transport equipment and food, the National Economic and Development Authority said Tuesday.
Manufacturing output increased a 10-month high of 14.6 percent from last year’s 4.4 percent growth, according to the Philippine Statistics Authority’s Monthly Integrated Survey of Selected Industries.
The value of production index for manufacturing rose 10.6 percent from a 2.2 percent decline last year.
“The manufacturing sector is expected to exhibit even stronger growth in December 2016 because of increased consumer demand during the Christmas season of 2016 compared to 2015. Looking ahead, we see the sector benefitting from strong private and public investments,” said Economic Planning Secretary Ernesto Pernia.
Pernia said low inflation and unemployment, and strong remittances would also continue to drive domestic demand and boost manufacturing in the Philippines.
The food sub-sector registered double-digit growth in both production and sales due to favorable farming conditions. It registered a volume of production growth rate of 24.6 percent, and a value of production growth rate of 26.7 percent from a 10- percent decline in both volume and value last year.
The production value of petroleum products in the intermediate goods sector, the has been growing steadily for three consecutive months, following consistent declines since 2015. The petroleum sub-sector posted 80.3 percent and 68.8 percent growth rates in volume and value of production, respectively.