Philippine Value of Production Index Drops, Net Sales Index Rises in February

The Philippines' value of production index for manufacturing slid 1.6% in January, after rising 3% annually in January, data from the Philippine Statistics Authority showed on Tuesday.

In February 2024, the index had rose 1.8% on year.

Meanwhile, the volume of production index slid 2.4% in February, after rising 2.3% in the previous month. In February 2024, the volume of production index rose 3.2% on year, the data showed.

The country's production index measures real output in the manufacturing sector.

The value of the net sales index for manufacturing jumped 9.3% year on year in February, faster than the 8.9% annual growth in the preceding month, and versus a 0.2% improvement a year earlier.

The volume of net sales index rose 8.4% year on year in February, faster than the 8.2% annual rise in the month prior, the data showed.