Philippines Industrial Outlook Positive

The outlook on industrial production remains positive with the expected boost from the government’s robust capital expenditures, especially on infrastructure, Moody’s Analytics, a division of Moody’s Corp., said in a report over the weekend. “While industrial production growth has eased through the first half of 2017, the medium-term outlook for the Philippines’ manufacturing sector remains bright, AFP reported. In large part, that reflects a likely pick-up in capital expenditure, which should provide a boost to local manufacturing,” Moody’s said. “Domestic demand also remains on a solid footing, keeping food production buoyant, the largest component of the industrial production survey,” Moody’s said. The Duterte administration aims to increase its fiscal expenditures on infrastructure projects under its ambitious “Build, Build, Build” program to further boost the economy, create more jobs and stimulate further economic activities nationwide. The government aims to build airports, seaports, roads, highways, bridges, railways, and even a subway in Metro Manila to alleviate traffic congestion in the capital region.