MANILA, Philippines (Xinhua) — The country’s manufacturing sector slowed down with January’s factory output declining by 19.9 percent on year, the National Statistics Office said today.
The NSO reported sharp declines in all major manufacturing sectors. Production of petroleum products, basic metals, furniture, paper, electrical machinery, apparel and chemical products all posted a double-digit drop in production as compared to last year’s output. Only rubber, plastic and non-metallic mineral products registered a slight increase in production.
Most of the manufacturing firms surveyed by the NSO operated below its full capacity. Average capacity utilization in January 2009 for total manufacturing was estimated at 77.5 percent. Of the 300 companies surveyed, only 11.9 percent of the respondents were operating at a full 90- to 100-percent capacity utilization rate.
The downtrend in the Philippine manufacturing sector reflects the waning consumer demand owing to the global economic crisis. Analysts said manufacturers are cutting output in line with reduced demand.
The NSO said the volume of net sales index in January fell 17.7 percent on year. Textiles and furniture registered the biggest decline at over 40 percent.
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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