PHL factory output posts negative growth in Dec. – NSO

Philippine factories continued to post negative output in December 2011, weighed down by slower production in nine major sectors, the National Statistics Office reported Tuesday.   The volume of production index (VoPI) was -7.8 percent in December from -6.4 percent in November, the NSO said in its latest Monthly Integrated Survey of Selected Industries (MISSI).   "Nine major sectors contributed to the decline in VoPI, with double-digit decreases noted in… machinery except electrical (-27.6 percent), food manufacturing (-27.3 percent), paper and paper products (-18.7 percent), basic metals (-17.9 percent), fabricated metal products (-17.3 percent), leather products (-14.5 percent), and textiles (-10.5 percent)," the NSO said.   In terms of value, factory output was -6.4 percent from the revised -4.0 percent in November.   Most manufacturing plants were operating at 83.3 percent capacity utilization rate.   "The proportion of establishments that operated at full capacity (90 percent to 100 percent) was 17.1 percent in December 2011. About 59.0 percent of the establishments operated at 70 percent to 89 percent capacity, while 23.9 percent of the establishments operated below 70 percent capacity," the NSO said. — CMA/VS, GMA News