PH FACTORY OUTPUT GROWTH REVVED UP TO 8.2% IN APRIL

In April, the 628 firms that were surveyed were operating at an average of 72.4 percent of capacity, a slight decrease from 73.2 percent in March.

All of the 22 manufacturing industries monitored were observing capacity utilization rates at more than 50 percent in April.

The busiest factories were those that make non-electrical machinery and equipment (82.7 percent); transport equipment (82.5 percent), and rubber and plastic products (76.6 percent).

Full capacity

The PSA said about one-quarter (24 percent) of respondents in the Monthly Integrated Survey of Selected Industries in April were operating at “full capacity”— which means at least 90 percent capacity utilization rate.

Also, about two-fifths (37.9 percent) of respondents were operating at 70 percent to 89 percent capacity, but another two-fifths (38.1 percent) operated below 70 percent capacity.

In April, the S&P Global Philippine Manufacturing PMI (purchasing managers index) rose for the 15th month in a row at 51.4, but this was slower than the 52.5 recorded in March.

A PMI was above 50, which means an overall increase (more positive responses than negative). Less than 50 means an overall decrease (more negative answers than positive).

S&P Global said the headline PMI was at an eightmonth low, with both new orders and output growing at much softer rates.

The April data suggested a shift in demand patterns as new export orders grew at the fastest rate in nearly two years and helped support the upturn in total new sales, the company said.