Local factory output rises 11% in March

Output of local factories expanded by 11.1 percent in March compared to a year ago, the government reported yesterday.

Data from the National Statistics Office (NSO) said volume of production (VoPI) in March was lower than the 25.7-percent growth in March last year and the 12.8 percent growth posted last February.

The March manufacturing output was the lowest since November 2009 at five-percent growth.

The NSO blamed the decline in factory output to the contraction of production of machinery except electrical, electrical machinery, footwear and wearing apparel, publishing and printing, wood and wood products, tobacco products, furniture and fixtures, paper and paper products and textiles.

The agency, on the other hand, said sectors that contributed to the growth were petroleum products, miscellaneous manufactures, basic metals, chemical products, transport equipment, non-metallic mineral products and fabricated metal products.

On a monthly basis, VoPI went up by 5.6 percent in March, slightly higher than the 1.5 percent recorded in previous month.

The average capacity utilization of these factories stood at 83.3 percent in March from 83 percent in February.

The NSO said sectors that posted more than 80-percent capacity utilization rates were basic metals, food manufacturing, petroleum products, non-metallic mineral products, chemical products, machinery except electrical, electrical machinery, paper and paper products, miscellaneous manufactures, rubber and plastic products and leather products.

The proportion of establishments that operated full capacity was 16.8 percent in March from 16.9 percent in February.

About 60.9 percent of the establishments operated at 70 to 89 percent capacity while 22 percent of the establishments operated below 70 percent capacity.

The value of production also posted a slower growth of 9.7 percent in March from 11.6 percent in February.

“This was accounted mainly by the slowdown in production values of the rubber and plastic products, beverages and leather products,” NSO said.

However, seven sectors contributed significant increases in value of production, namely: miscellaneous manufactures, basic metals, petroleum products, non-metallic mineral products, transport equipment, chemical products and fabricated metal products.

On a month-on-month basis, VaPI grew to 5.6 percent in March.

In addition, the value of net sales index grew by 10.6 percent in March, while the volume of net sales index grew by 12 percent. –Daily Tribune