Factory output fell in March; drop in fuel products cited

The country’s manufacturing production, both in volume and value, fell in March, partly on the back of the decrease in petroleum products, the Philippine Statistics Authority (PSA) reported on Tuesday.

Results of the statistics agency’s latest Monthly Integrated Survey of Selected Industries showed that the volume of production index (VoPi) contracted by 6.3 percent in March from the revised 4.0-percent expansion in February. The March figure is also slower than the 8.8-percent drop posted a year earlier.