Manufacturing output growth surges in Sept.
BWorld/11.26.08
FACTORY OUTPUT posted strong growth in September, rising by double digits in both volume and value terms, the National Statistics Office yesterday reported.
The volume (VoPI) and value (VaPI) of production indices grew by 12.5% and 19.7%, respectively, traced to higher prices and a weaker peso.
Both had eased a month earlier, with the VoPI up 6.5% from July’s 8%, and the VaPI at 12.7% from 14.2%.
"I think that the rise in the VoPI and VaPI can be traced to the escalation of prices in the third quarter," University of Asia and the Pacific senior economist Cid L. Terosa said.
Philippine Exporters Confederation president Sergio Ortiz-Luis, Jr. said "For one, the dollar was strong during that month ... and this meant more market for the sector."
University of Asia and the Pacific economist Victor A. Abola said "We should be feeling the slowdown already ... so that (the growth) is good news actually."
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