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(From BusinessWorld (Philippines))
Byline: Josephine B. Valle
Manufacturing put up a dismal performance in October as output dipped further, National Statistics Office (NSO) data show.
Factory output, as reflected by the volume of production index (VoPI), plunged 19.2% year on year, the biggest drop in almost eight years, the NSO's Monthly Integrated Survey of Selected Industries (MISSI) showed.
The fall was due largely to lower output in 13 of the 20 major sectors covered by the survey. Ten posted double-digit reductions, led by machinery excluding electrical which saw output plummet by 58%. Electrical machinery, textiles, and petroleum …