Philippines industrial production, and producer prices indices, both cooled in October, reported the Philippine Statistics Authority (PSA) on Friday.

The nation's value of production index declined 2.2% in October year on year, while the volume of output fell 1.8% in the same time frame, reported the PSA.

The value of net manufacturing sales fell 4.4% on year in October, while the volume of net sales declined 4.1%, added the PSA.

Industrial prices also cooled in October, with the Philippine producer price index (PPI) falling 0.3% on year, in the month.

Of 22 industrial segments in the Philippines, eight recorded increased value of output in October of year, while 14 logged declines.

The Philippines manufacture of electrical equipment was a standout in October, rising 60.5% on year. Other categories posting rapid growth in October were the manufacture of machinery up 32.1%, and the manufacture of leather and related products, up 33.2% on year.

In contrast, basic metal output in October fell 29.3% on year, while printing and reproduction of recorded media output declined 20% on year, reported the PSA.

The sluggish October PSA report on the Philippine industrial sector somewhat conflicts with recent purchasing manager index (PMI) manufacturing sector reports from S&P Global.

In early December, S&P Global reported, "The headline S&P Global Philippines Manufacturing PMI...rose from 52.9 in October to 53.8 in November, marking the fifteenth-consecutive monthly improvement

in the health of the Filipino manufacturing sector."

The November PMI marked a 29-month high, added S&P Global.