PHILIPPINE industrial output lost momentum in May amid the higher production of construction and export products, data released by the Philippine Statistics Authority (PSA) on Tuesday showed. Missi monitors the production, net sales, inventories, and capacity utilization of selected manufacturing establishments to provide flash performance indicators on the manufacturing sector. Socioeconomic Planning Secretary Ernesto Pernia said the output of construction products would increase toward the end of the year on the back of fiscal spending on infrastructure. The government plans to spend P847 billion on infrastructure development this year, covering projects in all regions, including small-, medium- and large-scale ventures. “Manufacturing output is expected to sustain its growth toward the end of the second quarter, driven by buoyant domestic demand and optimistic business outlook,” Pernia said.

Source: Manila Times July 11, 2017 17:37 UTC