Leather sector scores best growth
26/03/2008
The National Statistics Office of the Philippines has issued figures for manufacturing for the month of January, which show growth of 0.5% compared to the same month in 2007.
However, the value of the country’s manufacturing output has fallen by 1.4%.
The authorities blamed high energy and labour costs and a rise in the amount of smuggled, cheaper goods hitting the market there for the decrease in value.
Better news came from the leathergoods sector, which, with growth of 50% compared to January 2007, showed the best improvement of all manufacturing sectors.
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