Philippine manufacturing sector posts strong growth in H1
Xinhua, Manila :
The Philippines’ manufacturing sector posted strong growth in the first half of this year, as production of construction-related goods recovered in June, the National Economic and Development Authority said in a statement Wednesday.
The agency said the volume of production index for the month of June grew 8.5 percent, a turnaround from the 1.7 percent decline in the same period last year. Moreover, it said that the value of production index also grew 4.7 percent in June.
“Similarly, the volume of net sales index marked a strong growth of 7.1 percent while the value of net sales index grew by 3. 4 percent,” the agency said.
Socioeconomic Planning Secretary Ernesto Pernia said, “This signifies an improvement from the subdued growth in 2015 and reflects the sector’s strong production growth since the beginning of the year. The upswing in net sales performances was also a result of sustained domestic demand in the country.”
The Philippines’ manufacturing sector posted strong growth in the first half of this year, as production of construction-related goods recovered in June, the National Economic and Development Authority said in a statement Wednesday.
The agency said the volume of production index for the month of June grew 8.5 percent, a turnaround from the 1.7 percent decline in the same period last year. Moreover, it said that the value of production index also grew 4.7 percent in June.
“Similarly, the volume of net sales index marked a strong growth of 7.1 percent while the value of net sales index grew by 3. 4 percent,” the agency said.
Socioeconomic Planning Secretary Ernesto Pernia said, “This signifies an improvement from the subdued growth in 2015 and reflects the sector’s strong production growth since the beginning of the year. The upswing in net sales performances was also a result of sustained domestic demand in the country.”
