MANILA, Dec. 7 (Xinhua) -- Manufacturing in the Philippines grew at a slower pace in October, mainly due to the double-digit drop in the manufacture of beverages, the Philippine Statistics Authority (PSA) said Thursday.
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) increased by 1.3 percent and 1.7 percent in October, respectively.
The PSA said the October VaPI was slower than the September annual growth of 9.6 percent. In October 2022, the VaPI yearly growth was 14.5 percent.
The PSA attributed the slower increment in the annual VaPI growth in October to the double-digit annual drop in the manufacture of beverages industry division at 26.3 percent in September from a 23.1 percent yearly increase in the previous month.
The manufacture of beverages contributed 46.5 percent to the downtrend of VaPI for the manufacturing section in October. ■