Economics
Philippines’ Factory Output Falls by Most Since 2001 on Lockdown
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Philippines’ manufacturing production fell by the most since 2001 in April, the first full month of lockdowns imposed to prevent the spread of the coronavirus.
The sector’s value of production index plunged 61.4% from a year earlier, the Philippine Statistics Authority said on its website. The index measuring the volume of output fell 59.8%, also the most in 19 years.