RTTNews - Monday, a report by the Philippines National Statistics Office said the volume of production in the manufacturing sector dropped 13% year-on-year in May, slower than a revised 18.2% fall in the preceding month.
Eighteen of the 20 major industries contributed to this fall. At the same time, the value of production in manufacturing slipped 13.1% annually in May, slower than a revised 17% drop in April. Seventeen of the 20 major sectors contributed to the drop in value.
On a monthly basis, the volume of production grew 8%, while the value was up 8.3% in June.
Meanwhile, the volume of net sales dropped 14.8% year-on-year in June, while the value of sales were down 14.9%. Compared to the previous month, the volume rose 5.9%, while the value increased 6.1%.
The average capacity utilisation for the manufacturing sector in May was 80.1%.
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