According to the National Statistics Office for the Philippines, the value and volume of manufacturing output recorded double-digit declines in June. It claims 14 of its largest 20 industries reported a decline in production levels.

Manufacturing output has been contracting year-on-year since October 2008, recording the largest decline in January, when value dropped 24.5% and volume fell 26.7%.

Significant reductions in value were recorded in June for also observed in furniture and fixtures (44.9%), leather and leathergoods (43.9%), paper and paper products (32.1%), beverages (26.5%), footwear and apparel (23.3%), basic metals (22.5%), transport equipment (16.6%) and chemical products (16.1%).

Share this story: