Leather output plummets in the Philippines
29/06/2009
According to the Philippines’ statistics office, factory output fell for the sixth consecutive month in April. Furthermore, the rate of decline has increased compared with the previous month.
The Volume of Production index contracted by 15.5% in April compared with a 10.3% slide in March.A number of sectors including leathergoods, furniture and fixtures, transport equipment, footwear and apparel and chemical products, posted double-digit declines.
Most factories are now working at around 79.9% capacity.
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