Production in Philippines' manufacturing sector increased at a slower rate in May, data released by the National Statistics Office showed Tuesday.
Manufacturing production, in volume terms, increased 3.1 percent on an annual basis in May, slightly slower than the revised 3.3 percent growth seen in April.
On a month-on-month basis, production increased of 4.9 percent in May, recovering from April's 9.1 percent decrease, the agency said.
In value terms, factory output gained 4.7 percent annually during the month, after growing a revised 4.9 percent in the previous month.
At the same time, In May, the volume of manufacturing turnover decreased 0.5 percent compared to the same month last year, reversing the previous month's 4.8 percent growth. Sales, in value terms, moved up 1 percent during the month, following April's 6.4 percent increase, data showed.
by RTT Staff Writer
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