THE manufacturing sector grew 5.8 percent in May, faster than the 4.3-percent growth a month ago, driven mainly by higher output of construction- and export-oriented goods, the National Economic and Development Authority said Tuesday. Fabricated metals registered a record-high growth of 116.9 percent while basic metals and non-metallic products increased 29.1 percent and 22.6 percent, respectively. “These recorded increases led to an overall Volume of Production Index (VoPI) for manufacturing of 5.8 percent, faster than the 4.3 percent growth recorded in the previous month,” Neda said. “This also led to the 7.5 percent three-month moving average growth rate, reflecting a robust performance of the sector,” it said. “Seventy-five flagship projects have been identified by the administration to address our huge infrastructure deficit,” Pernia said.

Source: The Standard July 11, 2017 13:07 UTC