MANILA  -- Solid growth for the Philippines’ manufacturing sector will continue, Moody's Analytics, the economic research and analysis division of Moody's Corporation said in a government press release.

Moody’s Analytics has forecasted that the Philippine industrial production for August will expand by 11 percent.

This is prior to the August manufacturing report that will be published by the Philippine Statistics Authority (PSA) Thursday.

“Philippine manufacturing continues to grow solidly. Domestic demand has recovered since last year’s typhoon, and export demand continued to improve through the third quarter,” Moody’s Analytics said.

In an interview last week with Department of Trade and Industry-Bureau of Export Trade Promotion Director Senen M. Perlada, he said export demand has perked up this year; thus he projected exports revenue to grow beyond the 8.0 percent outlook of the Development Budget Coordinating Council.

Also last week, Semiconductor and Electronics Industry of the Philippines Inc. President Dan Lachica adjusted the electronics revenue growth from 5.0 percent to a range of 5.0 to 8.0 percent growth mainly due to robust demand.

Further, Moody’s Analaytics also noted that investments of the private sector will continue to back the solid manufacturing growth.

Base on PSA data, industrial production in July expanded by 7.7 percent after growing double-digit for three consecutive months from April to June.

The government has continued its support for the manufacturing industry and is targeting for the resurgence of the sector which is expected to deliver decent jobs and will address inclusive growth.

In the second quarter of the year, industry -- led by the 10.8 percent manufacturing growth -- has fuelled the 6.4 percent gross domestic product growth of the country. *PNA

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