Philippine Factory Output Growth Slows in May, Led by Transport Equipment and Chemicals
Philippine factory output saw its growth ease in May, with the Volume of Production Index (VoPI) rising 10.2 percent year-on-year, down from 11.7 percent in April. This slowdown was primarily attributed to decreased production in transport equipment and chemicals, though it marks a significant turnaround from a 0.3 percent contraction in May of the previous year.
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