Manila: Factory output, both in volume and value, grew at a faster pace in March, boosted by the increase in the manufacture of coke and refined petroleum products, data from the Philippine Statistics Authority (PSA) showed on Wednesday. Results of the PSA's Monthly Integrated Survey of Selected Industries (MISSI) showed that the value of production index (VaPI) recorded a faster increase of 10.5 percent in March from 4.5 percent in February.

According to Philippines News Agency, in March last year, the VaPI rose by 0.1 percent. The PSA attributed the higher VaPI growth mainly to the increase in the manufacturing of coke and refined petroleum products by 4 percent during the month, after a 16.6 percent drop in February. Faster increases recorded in the manufacture of computer, electronic and optical products, as well as basic metals, also contributed to the higher VaPI.

Meanwhile, the volume of production index (VoPI) rose by 7.8 percent, faster than the 3.1 percent and 0.6 percent increases recorded in February this year and in March 2025, respectively. The slower annual decline in the manufacture of coke and refined petroleum products, and the faster increase in the manufacture of basic metals and transport equipment, contributed to the higher VoPI in March.

Average capacity utilization in manufacturing went up to 78.5 percent from 77.6 percent in February. All industry divisions reported capacity utilization rates of more than 65 percent. The highest utilization rates were recorded in the manufacture of coke and refined petroleum products at 84.4 percent, manufacture of machinery and equipment except electrical at 82.3 percent, and other manufacturing and repair and installation of machinery and equipment at 81.8 percent.

The MISSI tracks monthly data on employment, compensation, production, net sales, inventories, and capacity utilization, providing indicators to monitor the performance of the manufacturing sector.