NSO: PHL factory output grows slower in Feb.

Philippine factory output grew slower in February, weighed down by lower volumes in the metals and leather sectors and the government said on Tuesday. The National Statistics Office reported that the volume of production index in the country grew 11.2 percent in February, slower than the revised 16.7 percent recorded in January. "Volume of Production Index accelerated at a slower rate... This was accounted [for] mainly by the slowdown in the annual production volumes in the fabricated metal products and leather products sectors," the NSO said in its latest Monthly Integrated Survey of Selected Industries. In terms of value, the Missi also grew slower at 9.6 percent from 12.6 percent in the same comparable period. "This was attributed to the slowdown in production values of the electrical machinery and textiles sectors," the NSO said. Most plants also had an average capacity utilization rate of 83 percent. "The proportion of establishments that operated at full capacity (90 percent to 100 percent) was 16.9 percent in February 2011. About 61 percent of the establishments operated at 70 percent to 89 percent capacity while 22.1 percent of the establishments operated below 70-percent capacity," the NSO said. — CMA/VS, GMA News