Factory output continues to decline June

FACTORY output, both in volume and value continued to contract in June but at a slower pace compared to the recorded decline in May, the Philippine Statistics Authority (PSA) said.

Results of the latest Monthly Integrated Survey of Selected Industries released on Wednesday showed that the country’s volume of production (VoPi) contracted by 19.3 percent in June from 28.5 percent decline in May.

The decline however was higher than the -9.0 percent recorded in the same month last year.

Value of production (VaPi) on the other hand, also declined by 22.5 percent, slower than May’s 31.2 percent decrease but higher than the -7.7 percent in June 2019.

Source: TheManila Times