Introduction

These results were based on the interim Monthly Integrated Survey of Selected Industries (MISSI) of the National Statistics Office with the Department of Trade and Industry which will eventually provide flash indicators on the performance of industrial enterprises such as production, sales, employment, compensation, inventory of raw materials and finished products, and capacity utilization. The MISSI is a key feature arising from a Memorandum of Understanding (MOU) forged between the two offices along with the National Statistical Coordination Board, the Federation of Philippine Industries and the Philippine Chamber of Commerce and Industry.

This interim survey only covers the value and volume of production and sales in the manufacturing sector while the MISSI questionnaire is still being finalized. The results were based on a sample of about 500 firms/establishments throughout the country, supplemented with exports data from Garments and Textile Export Board (GTEB) and data from the Philippine Cement Corporation (PHILCEMCOR).

Executive Summary

Preliminary results of the interim survey for April 1998 showed decreases in both production and sales compared to their year-ago levels. Value of production dipped by 2.0 percent and volume of production, by 11.8 percent. Value of sales slightly increased by 0.7 percent while sales volume declined by 9.9 percent.

On a month-on-month basis, value and volume of sales decreased by 1.1 percent and 3.7 percent, respectively, after posting increases in the past 3 months. Value and volume of production likewise declined by 6.6 percent and 6.7 percent, respectively.

Declines in both production and sales of basic metals, petroleum, transport equipment and textiles contributed significantly to the bad performance of the manufacturing sector in April 1998.

• • r - revised due to updating of data from late responding establishments.

Year-on-year

Year-on-year decreases were observed in 9 out of 16 major sectors resulting in a decrease of 2.0 percent overall. Basic metals declined by 36.0 percent. Shutdowns of some plants due to weak demand brought about by the slowdown in construction activities as well as competition from imported products contributed to the decline in production of this sector. Others that contributed largely to overall decline in value of production were petroleum refineries (-12.8 %), transport equipment (-38.0 %), and textile (-16.9%).

On the other hand, seven sectors posted positive growths. These were led by wearing apparel which increased by 36.8 percent, electrical machinery (27.3%), miscellaneous manufactures (22.1%), and food manufacturing (18.1%).

Month-on-month

On a month-on-month basis, all sectors posted declines. Leading was basic metals with a 34.3 percent drop. Other sectors that significantly contributed to the overall downward pull were textile (-26.3%), food manufacturing (-5.9%), and petroleum products (-5.2%). 

                           Note: Sectors are ranked according to their contribution to the overall April 1998 growth rate.
           r - revised due to updating of data from late responding establishments.

Year-on-year

The volume of production index (VoPI) for manufacturing decreased by 11.8 percent over least year. Basic metals posted the biggest decline of 53.6 percent. Other sectors contributing largely to the decline in overall VoPI were petroleum refineries (-10.7%), transport equipment (-43.5%), textile (-24.4%) and wearing apparel (-18.9%).

On the other hand, four sectors registered positive growths, namely: electrical machinery (10.0%), food manufacturing (3.7%), paper & paper products (1.3%), and other manufacturing industries (3.0%).

Month-on-month

On a monthly basis, all sectors posted declines. Basic metals registered the biggest drop of 34.7 percent. Other sectors that significantly contributed to the downward pull were textile (-26.4%), food manufacturing (-4.8%), and petroleum refineries (-4.5%).

                         Note: Sectors are ranked according to their contribution to the overall April 1998 growth rate.
                                    r - revised due to updating of data from late responding establishments.

Year-on-Year

The value of net sales for April 1998 posted a slight increase of 0.7 percent over the same month last year with the 52.3 percent increase in paper and paper products contributing significantly to the growth. Strong demand for paper and paper products due to forthcoming elections and school opening was primarily responsible for the growth. Chemicals followed with 18.0 percent; food (7.9%); wearing apparel (13.6%); and beverage (18.4%).

On the other hand, electrical machinery registered the biggest drop in sales value at -36.7 percent. Other sectors that posted decreases were textile (-40.7%), basic metals (-30.7%), transport equipment (-25.3%), and wood and wood products (-25.9%).

Month-on-Month

On a month-on-month basis, the value of net sales exhibited a drop of 1.1 percent compared to the previous month. Electrical machinery contributed largely to the overall drop with a decrease of 47.7 percent. Textile followed with a growth of -36.8 percent; food (-4.6%), wearing apparel (-12.3%), and transport equipment (-14.3%).

On the other hand, three of the sixteen sectors posted increases. These were wood and wood products (30.4%), petroleum products (1.3 %), and beverage (8.9%).

Year-on-Year

The volume of net sales for April 1998 declined by 9.9 percent over the same month last year led by a 29.1 percent decrease in petroleum products. This was followed by basic metals with a decline of -38.1 percent; textile (-45.8%), transport equipment (-46.3%), and wood and wood products (-34.6%).

On the other hand, seven sectors posted increases. Paper and paper products grew by 36.3 percent followed by furniture and fixture with 35.5 percent. Other sectors that exhibited increases were beverage (18.4%), chemicals (18.3%), wearing apparel (13.6%), food (7.4%), and rubber products (3.7%).

Month-on-Month

On a month-on-month basis, the volume of net sales exhibited a decline of 3.68 percent. Textile significantly contributed to the overall drop with a decrease of 41.6 percent followed by wood and wood products (-57.6%), wearing apparel (-12.3%), transport equipment (-15.4%), and paper and paper products (-12.3%).

Six sectors posted increases: beverages (9.5%), basic metals (8.1%), furniture & fixtures (5.0%), electrical machinery (3.3%), chemicals (2.9%), and food (1.0%).