Philippines Production Index Falls In January

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Philippines production index declined in January, data from the Philippine Statistics Authority showed on Tuesday.

Production index value declined 21.1 percent yearly in January, following a 15.4 percent fall in December.

Manufacture of wood, bamboo, cane rattan articles and related products declined 53.5 percent yearly in January. Manufacture of coke and refined petroleum products decreased 53.1 percent and those of machinery equipment except electrical fell by 51.0 percent.

The production index volume fell 16.7 percent annually in January, following a 12.0 percent decrease in the preceding month.

Data also showed that the producer prices fell 5.3 percent year-on-year in January, following a 3.8 percent decline in December.

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