Philippine factory output surges 124% in September

Philippine factory output surged by 124 percent in September, a significant but moderated increase compared to the previous month's growth.

This strong performance was driven by expansions in 13 different industries, according to the Philippine Statistics Authority (PSA).

The volume of production index (VoPI) saw a substantial rise, primarily influenced by a 739.7 percent increase in the production of coke and refined petroleum products.

This recovery in refined petroleum products was partly due to the resumption of operations by Petron Corp. at its Bataan facility.

Conversely, the tobacco industry experienced the largest decline in production, with a year-on-year drop of 52.8 percent.

The value of production index (VaPI) also rose by 122.7 percent year-on-year, though at a slower pace than in August.