FACTORY PRODUCTION grew at its slowest pace in three months in December due to seasonal factors and a decline in trade performance, economists said. Full story:
FACTORY PRODUCTION grew at its slowest pace in three months in December due to seasonal factors and a decline in trade performance, economists said.
The latest print brought last year’s average factory output growth to 15.2%, easing from the 52.6% average in 2021. S&P Global’s Philippines Manufacturing Purchasing Managers’ Index hit a six-month high in December, indicating a solid improvement in the health of the manufacturing sector. Three industry divisions contributed to the slower growth in December, the PSA said in the report released on Thursday.
As the economy saw a sustained recovery last year, he noted growth may “naturally slow down” this year. “In December, factories are almost at a standstill. Everyone is busy ,” he said in a phone interview.
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