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Philippine factory output dropped in November 2024, with key indices falling due to typhoons and higher costs.
Philippine factory output fell in November 2024, with the Value of Production Index (VaPI) and Volume of Production Index (VoPI) dropping by 3.9% and 4.2% respectively.
The decline was mainly due to lower production in food products, transport equipment, and electronic goods, influenced by typhoons and rising input costs.
The average capacity utilization rate was 75.6%, down slightly from the previous month.
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La producción de las fábricas filipinas cayó en noviembre de 2024, con índices clave cayendo debido a tifones y costos más altos.