Manufacturing sector posts 21% growth in January

The manufacturing sector recorded a two-digit annual growth in January 2011 as indicated by the 21.8 percent increase in the value of production index (VaPI) from a single-digit increase of 8.5 percent in December 2010.

The National Statistics Office (NSO) in its monthly survey of selected industries attributed the growth to 15 major sectors, and the two-digit increase in production values observed in food manufacturing, fabricated metal products, miscellaneous manufactures, petroleum products, leather products, chemical products, electrical machinery, textiles, and footwear and wearing apparel.

On the other hand, VaPI on a monthly basis, slid 4.5 percent in January 2011 compared with previous month’s gain of 3.5 percent.

This was mainly due to the two-digit reduction in production values reported by four major sectors —  basic metals, publishing and printing, footwear and wearing apparel and beverages.

The volume of production index (VoPI) continued to accelerate as it posted a year-on-year growth of 25.8 percent in January 2011.

This was accounted by 16 major sectors reporting increases in production output, and with two-digit increases observed in food manufacturing, miscellaneous manufactures, electrical machinery, fabricated metal products, chemical products, furniture and fixtures, and petroleum products.

 On a monthly basis, the VoPI, however, decelerated 6.2 percent in January 2011. Significant reductions in factory output were noted in basic metals, publishing and printing, footwear and wearing apparel, food manufacturing and beverages.