The Philippine manufacturing sector experienced a rebound in December 2024, following a slump in November. Data from the Philippine Statistics Authority (PSA) shows that the volume of production index (VoPI) increased by 0.2 percent annually, reversing the 3.9 percent decline observed in November. This positive performance led to a full-year growth of 0.9 percent for the manufacturing sector in 2024.
Manufacturing rebounded in December from November’s slump and led the sector to a full-year growth of 0.9 percent in 2024, data from the Philippine Statistics Authority show.
The PSA attributed the uptrend in the year-on-year growth of VoPI in December to the increased manufacture of computer, electronic and optical products with 4.3 percent annual increment; coke and refined petroleum products with 4.4 percent growth; and transport equipment with 6.1 percent increase. Manufacture of food products declined 1.7 percent in December 2024, deeper than its annual decrease of 0.9 percent in November 2024.
MANUFACTURING PHILIPPINES ECONOMIC GROWTH PRODUCTION CAPACITY UTILIZATION
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