THE Philippine Statistics Authority (PSA) said that the Philippine manufacturing has slowed down during October with the back of the double-digit drop, particularly in beverages.

According to data from the PSA, it said that the volume of production index (VoPI) at 1.7% in October.

This is slower than the 9.9% growth in the previous month and the 6.7% increase recorded last year.

They attributed the slower annual growth to decreases to beverages (-33.9%), including the manufacture of coke as well as the refined petroleum products (46.8% from 78.5% in September), and the manufacture of computer, electronic, and optical products (-1.9%).

Likewise the VoPI for the manufacture of food products also registered an annual drop of 6.3% in October 2023.

Compared to September it is -8.0% and the 4.1% increase in October 2022.