Philippine manufacturing output slowed in February 2023 due mainly to the decline recorded in food products, government data released on Tuesday revealed.
Preliminary results of the Monthly Integrated Survey of Selected Industries of the Philippine Statistics Authority showed that the volume of production index expanded by 7.2% in February.and compares with the 69.8% growth recorded in February 2022.
Slower annual growth rates were also seen in the manufacture of electrical equipment at 22.3%, transport equipment at 27.3%, beverages at 22.0%, basic pharmaceutical products at 3.2%, and paper and paper products at 1.0%. Other main contributors to the slower annual growth in the value of production were the manufacture of computer, electronic, and optical products; other non-metallic mineral products.
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