Factory output grew for the fifth consecutive month in November as productivity in the manufacturing sector increased, data from the Philippine Statistics Authority (PSA) showed.
Factory output grew for the fifth consecutive month in November as productivity in the manufacturing sector increased, data from the Philippine Statistics Authority showed.
In a separate briefing for labor force data on Friday, National Statistician Claire Dennis S. Mapa said employment in the manufacturing sector increased during the month, as reflected in the MISSI data. Year to date, factory output growth averaged 16.2%, slowing from the 57.3% average growth in the same period in 2021.
Meanwhile, seven industry divisions contracted on an annual basis in November. Electrical equipment recorded the largest drop at 54.5% , which was a reversal from the 45.1% growth in November 2021.
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