MANILA, July 11 (Xinhua): The performance of manufacturing production in the Philippines continued to accelerate in May, hitting a growth record, the Philippine Statistics Authority (PSA) has announced. The year-on-year growth rate in May "was the second positive growth since April 2019 and the highest annual growth in the 2018-based data series, " the PSA said in a statement. The PSA said the sharp increases in most of the 18 industry divisions that registered positive annual growth rates led to the VaPI's upward trend. The PSA said the expansion in the VoPI for the manufacturing sector was observed in 18 out of the 22 industry divisions. The manufacture of coke and refined petroleum products registered the fastest growth at 1, 366.1 per cent, it added.

Source: The Star July 11, 2021 07:41 UTC