PHL factory production slows in August – NSO

Slower production of footwear and clothes weighed against Philippine factory output in August, the National Statistics Office said Wednesday. The volume of production index grew 2.1 percent in August, from the revised 4.6-percent in July, the NSO said in its Monthly Integrated Survey of Selected Industries. "This was accounted mainly by the slower production output of the footwear and wearing apparel industry," the survey report noted. “However, eight major sectors contributed to the increases in volume of production, namely: furniture and fixtures, miscellaneous manufactures, beverages, paper and paper products, rubber and plastic products, chemical products, publishing and printing and leather products," the NSO said. In terms of value, factory output also posted a slower 2.1-percent growth, down from the revised 4.6 percent in the July-August survey. Most factories also had an average capacity utilization of 83.3 percent. "The proportion of establishments that operated at full capacity (90 percent to 100 percent) was 15.5 percent in August 2011," according to the report. “About 61.1 percent of the establishments operated at 70 percent to 89 percent capacity while 23.4 percent of the establishments operated below 70 percent capacity," the NSO added. — CMA/VS, GMA News