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THE COUNTRY’S factory output declined for a 12 th straight month in February, and posted its steepest fall in five months, the government reported on Thursday. Preliminary results of the Philippine Statistics Authority’s (PSA) Monthly Integrated Survey of Selected Industries for February showed factory output, as measured by the Volume of Production Index (VoPI), plunged by 43.6% year on year in February. This was faster than the revised 12% drop in January, and a reversal of the 0.4% growth a year earlier. The February decline marked the steepest in five months or since the 56.7% year-on-year slump seen in September 2020. The index has been on steady a decline since March last year, around the time when strict lockdown restrictions were implemented to contain the spread of the coronavirus disease 2019 (COVID-19).

San carlosNegros occidentalCamarines norteCavite cityMetro manilaPhilippines generalSergior ortiz luis jrJoboe hernandezPhilippine exporters confederation incMonthly integrated survey of selected industries forPhilippine statistics authorityMonthly integrated surveySelected industriesProduction indexSenior economist nicholas antonioExporters confederation