MANILA, April 8 (Xinhua) -- The performance of manufacturing production in the Philippines declined in February, the Philippine Statistics Authority (PSA) said Tuesday.

Based on the preliminary results of the Monthly Integrated Survey of Selected Industries, the PSA said the year-on-year value of production index (VaPI) and the volume of production index (VoPI) fell by 1.6 percent and 2.4 percent in February, respectively.

The PSA said the VaPI for the manufacturing section registered an annual decline of 1.6 percent in February 2025 from annual increases of 3.0 percent in January 2025 and 1.8 percent in February 2024.

The PSA attributed the downtrend in the annual rate of VaPI for manufacturing in February 2025 to the faster annual decrease in the manufacture of basic metals.

Other primary contributors to the downtrend in the annual rate of VaPI for manufacturing in February were the slower annual increase recorded in the manufacture of machinery and equipment except electrical, and the faster annual decrease in the manufacture of chemicals and chemical products.

Three of the remaining 19 industry divisions exhibited annual drops in their VaPI during the period, while the other 16 industry divisions posted annual increments.

In February 2025, the VoPI for the manufacturing section registered a year-on-year drop of 2.4 percent from its annual increment of 2.3 percent in January.

In February 2024, the VoPI for manufacturing recorded an annual increase of 3.2 percent.

The downtrend in the year-on-year growth rate of VoPI for manufacturing in February 2025 was primarily driven by the same top three industry divisions that contributed to the downtrend in the annual rate of VaPI for manufacturing during the period, the PSA said. Enditem

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