PH manufacturing growth up in February

Philippine manufacturing growth accelerated in February, driven by higher production of basic metals, food products, and beverages during the month, preliminary data released by the Philippine Statistics Authority (PSA) on Tuesday showed.

Results of the Monthly Integrated Survey of Selected Industries (MISSI) showed that the volume of production index (VoPI) grew by 3.2% in February, faster than the 1.3% in January and the 2.0% decline in February 2025.

The biggest jump was seen in the manufacture of basic metals, which posted an annual growth of 18.7%, followed by beverages (7.2%), and food products (3.4%).

The top industry divisions contributing to overall growth were the manufacture of computer, electronic, and optical products; basic metals; and food products.

Out of the 22 industry divisions, 10 posted negative annual growth rates: basic pharmaceuticals (-40.1%); fabricated metals (-23.7%); coke and refined petroleum (-19.5%); printing and reproduction of recorded media (-8.0%); machinery and equipment (-6.6%); textile (-2.4%); chemicals (-2.4%); wood, bamboo, cane, rattan (-0.7%); transport equipment (-0.6%); and paper (-0.5%).

The value of production index (VaPI), meanwhile, grew by 4.6% in February. This is faster than the 2.6% jump in January and a reversal of the 1.0% drop in February 2025.

“The acceleration in the annual growth rate of VaPI for manufacturing in February 2026 was mainly attributed to the annual increase posted by the manufacture of basic metals…” the PSA said in a release.

The average capacity utilization rate for the month was recorded at 77.5%, lower than the 77.8% in January, but higher than the 76.0% the same month last year.

In February, nearly a third, or 32.5%, of establishments operated at 90% to 100% capacity, while 41.6% operated at 70% to 89%. Some 25.9% operated below 70%.

All industry divisions reported capacity utilization rates over 60%, with the top being tobacco products (83.1%), other manufacturing and repair and installation of machinery and equipment (81.4%), and wood, bamboo, cane, rattan articles, and related products (81.2%).  —VBL, GMA News