r-revised

• Value of Production registers lower growth
  

  Value of Production Index (VaPI) for the manufacturing industry on a year-on-year basis posted an increase of 3.0 percent in April 2006 compared with the year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Among the major sectors, leather products posted the highest production increase of 88.9 percent, while five (5) other major sectors also registered double-digit growth, as follows: petroleum products, textiles, machinery excluding electrical, basic metals and furniture and fixtures. Refer to Tables 1-A and 1.

  VaPI, on a monthly basis, grew at a slower rate of 2.0 percent in April 2006. Only two (2) major sectors reported two-digit month-on-month increases while eighteen (18) major sectors registered decreases in production value.Refer to Tables 1-A and 1.

• Volume of Production Index (VoPI) continues to fall
  

  Volume of Production Index (VoPI) on a year-on-year basis dipped further by 13.9 percent compared to its 7.8 percent slump in March 2006. This was brought about by the contraction in factory output, with two-digit decreases observed in the following sectors: electrical machinery, tobacco, transport equipment, wood and wood products, non-metallic mineral products, beverages, rubber products, and footwear and wearing apparel. Refer to Tables 2 and 1-B.

  However, VoPI registered a month-on-month growth of 1.4 percent in April 2006. Only three (3) major sectors reported month-on-month increases while seventeen (17) major sectors registered decreases in production volume. Refer to Tables 2 and 1-B.

  

   

  

• Value of Net Sales tumbles
  

  Value of Net Sales on a yearly basis slumped by 2.5 percent in April 2006 compared to the previous month's (revised) increase of 7.6 percent. The decrease was mainly due to the slacked performance in sales, with two-digit decreases observed in the following sectors: machinery excluding electrical, transport equipment, non-metallic mineral products, wood and wood products, rubber products, publishing and printing, paper and paper products, textiles and furniture and fixtures. Refer to Tables 2-A and 3.

  On a monthly basis, Value of Net Sales also went down by 5.0 percent in April 2006 from the previous month's (revised) growth of 9.9 percent. Seventeen (17) of the 20 major sectors posted decline in sales, with two-digit decreases observed in the following: furniture and fixtures, miscellaneous manufactures, transport equipment, rubber products, textiles, beverages, footwear and wearing apparel, wood and wood products and non-metallic mineral products. Refer to Tables 2-A and 3.

• Volume of Net Sales slips further
  

  On a yearly basis, Volume of Net Sales continued to tumble as it posted a double-digit decrease of 13.3 percent compared to its year-ago figure. The two-digit decreases reported by eleven (11) major sectors compared to only two (2) major sectors that exhibited positive growth contributed to the poor sales volume of the manufacturing sector. Refer to Tables 2-B and 4.

  Likewise, Volume of Net Sales, on a monthly basis, dropped by 5.8 percent in April 2006 compared to the previous month's (revised) increase of 9.3 percent. Seventeen (17) of the 20 major sectors posted decline in sales, with two-digit decreases observed in the following: furniture and fixtures, miscellaneous manufactures, rubber products, transport equipment, footwear and wearing apparel, textiles, beverages, non-metallic mineral products and wood and wood products. Refer to Tables 2-B and 4.

  

• Producer Price Index (PPI) posts two-digit growth in five months
  

  Producer Price Index (PPI) in April 2006 continued its two-digit growth at 16.7 percent compared to its year-ago figure. Among the 20 major sectors, electrical machinery registered the highest price increment at 83.0 percent, followed by the other sectors with double-digit increases, as follows: machinery excluding electrical, leather products, footwear and wearing apparel, non-metallic mineral products, rubber products and petroleum products. Refer to Table 5.

  On monthly basis, PPI grew slightly by 0.6 percent in April 2006. Price increments were observed in seventeen (17) major sectors. Refer to Table 5.

  

• Capacity Utilization
  

  Average capacity utilization in April 2006 for total manufacturing was estimated at 80.1 percent. Sectors that registered more than 80% capacity utilization rates were the following: machinery excluding electrical, petroleum products, electrical machinery, paper and paper products, miscellaneous manufactures, leather products, basic metals, rubber products, food manufacturing, chemical products and textiles. Refer to Table 6..

  The proportion of establishments that operated at full capacity (90% to 100%) was 9.7 percent in April 2006. More than half or 58.6 percent of the establishments operated at 70% to 89% capacity and 31.7 percent of the establishments operated below 70% capacity.

  Distribution of Key Manufacturing Establishments by Capacity Utilization
  Total Manufacturing, April 2006
  (In percent)

  Capacity Utilization	Percent Share
  Below 50 percent	4.0
  50 percent - 59 percent	8.3
  60 percent - 69 percent	19.4
  70 percent - 79 percent	22.8
  80 percent - 89 percent	35.8
  90 percent - 100 percent	9.7

• Response Rate
  

  The response rate for April 2006 is 89.6 percent, which corresponds to the retrieval of 456 sample establishments' reports. Refer to Table 7.

  Response Rates for Total Manufacturing
  (In percent)

  April 2006	March 2006            (revised)
  89.6	94.5

• Technical Notes
  

  Starting 2006, weights for the Producer Price Index (PPI) are based from the results of the 2003 Annual Survey of Philippine Business and Industry (ASPBI) for manufacturing establishments with average total employment (ATE) of 20 and over.

  Data of non-responding sample establishments are estimated based on previous records and other available sources. Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.
   

  (Sgd.) CARMELITA N. ERICTA                                                                                                     Administrator

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  TABLE 1-A. VALUE OF PRODUCTION INDEX, March 2006 - April 2006
  (1994 =100)

  Gainers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Petroleum Products	40.8	22.1
  Basic Metals	18.3	15.2
  Textiles	27.5	27.4
  Food Manufacturing	3.0	24.3
  Footwear and Wearing Apparel*	8.5	-10.9
  Machinery Excluding Electrical*	25.3	-33.0
  Leather Products*	88.9	13.4
  Fabricated Metal Products*	6.2	43.1
  Furniture and Fixtures	16.1	-39.2
  Paper and Paper Products	3.4	15.3
  Losers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Transport Equipment	-37.9	-24.3
  Tobacco	-39.5	39.6
  Chemical Products	-8.4	4.2
  Beverages	-17.5	-0.2
  Electrical Machinery	-6.5	14.8
  Non-Metallic Mineral Products	-15.1	-7.7
  Wood and Wood Products	-31.7	-23.4
  Publishing and Printing*	-8.4	3.3
  Rubber Products	-8.6	11.4
  Miscellanous Manufatures	-2.4	29.9

  TABLE 1-A. VALUE OF PRODUCTION INDEX, March 2006 - April 2006
  (concluded)
  (1994=100)

  Gainers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Petroleum Products	45.1	-26.1
  Leather Products*	12.5	-10.7
  Losers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Transport Equipment	-23.7	4.2
  Food Manufacturing	-7.0	18.0
  Tobacco	-31.7	10.6
  Electrical Machinery	-6.3	13.2
  Beverages	-7.4	1.8
  Chemical Products	-2.5	13.2
  Fabricated Metal Products*	-13.4	16.7
  Basic Metals	-3.9	9.2
  Miscellaneous Manufactures	-18.4	18.8
  Paper and Paper Products	-7.5	-0.4
  Rubber Products	-17.6	13.0
  Footwear and Wearing Apparel*	-2.6	5.0
  Textiles	-2.6	13.7
  Wood and Wood Products	-6.5	4.6
  Furniture and Fixtures	-7.1	24.3
  Machinery Excluding Electrical*	-3.4	7.5
  Publishing and Printing*	-3.5	2.9
  Non-Metallic Mineral Products	-0.8	4.2

  
  Note: * - new sectors in the 1994-based series

  Sectors are ranked according to their contribution to the overall 1994-based April 2006 growth rate.

  Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1.

  Month-on-month growth rates are computed by dividing the current month index by previous month index less 1.

  TABLE 1-B. VOLUME OF PRODUCTION INDEX, March 2006 - April 2006
  (1994 = 100)

  Gainers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Petroleum Products	24.6	6.6
  Basic Metals	19.4	14.1
  Textiles	24.4	23.4
  Furniture and Fixtures	28.1	-33.6
  Fabricated Metal Products*	7.3	44.6
  Food Manufacturing	0.4	21.5
  Leather Products*	49.5	-10.3
  Paper and Paper Products	0.6	8.9
  Losers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Electrical Machinery	-54.5	-40.9
  Transport Equipment	-39.4	-26.8
  Tobacco	-43.0	31.6
  Beverages	-21.0	-5.3
  Non-Metallic Mineral Products	-26.5	-18.7
  Chemical Products	-7.4	2.7
  Footwear and Wearing Apparel*	-12.2	-15.8
  Wood and Wood Products	-36.8	-29.1
  Rubber Products	-20.1	3.6
  Publishing and Printing*	-6.2	5.8
  Machinery Excluding Electrical*	-5.8	-50.1
  Miscellaneous Manufactures	-0.5	4.5

  TABLE 1-B. VOLUME OF PRODUCTION INDEX, March 2006 - April 2006
  (concluded)
  (1994=100)

  Gainers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Petroleum Products	43.4	-25.8
  Leather Products*	12.5	-12.2
  Miscellaneous Manufactures	0.1	-1.8
  Losers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Food Manufacturing	-7.5	17.6
  Transport Equipments	-23.9	3.1
  Tobacco	-31.7	10.6
  Electrical Machinery	-6.5	12.4
  Footwear and Wearing Apparel*	-11.4	5.0
  Beverages	-7.4	-5.7
  Chemical Products	-2.6	14.1
  Basic Metals	-4.1	9.0
  Fabricated Metal Products*	-13.4	16.7
  Rubber Products	-22.5	13.0
  Paper and Paper Products	-7.1	-1.1
  Textiles	-2.7	14.0
  Non-Metallic Mineral Products	-2.3	2.9
  Machinery Excluding Electrical*	-5.4	8.5
  Wood and Wood Products	-6.5	4.8
  Furniture and Fixtures	-7.0	26.8
  Publishing and Printing*	-3.5	2.9

  
  Note: * - new sectors in the 1994-based series

  Sectors are ranked according to their contribution to the overall 1994-based April 2006 growth rate.

  Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1.

  Month-on-month growth rates are computed by dividing the current month index by previous month index less 1.

  TABLE 2-A. VALUE OF NET SALES, March 2006 - April 2006
  (1994=100)

  Gainers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Petroleum Products	8.6	0.1
  Electrical Machinery	7.2	18.7
  Basic Metals	12.4	18.5
  Food Manufacturing	2.8	14.9
  Leather Products*	91.4	2.1
  Fabricated Metal Products*	5.0	22.4
  Tobacco	2.6	48.1
  Footwear and Wearing Apparel*	0.6	-6.8
  Losers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Transport Equipment	-37.6	-18.7
  Non-Metallic Mineral Products	-23.4	-1.7
  Machinery Excluding Electrical*	-57.2	-58.8
  Textiles	-15.6	-0.9
  Chemical Products	-3.3	12.2
  Beverages	-6.4	7.8
  Paper and Paper Products	-16.5	-7.2
  Publishing and Printing	-18.0	-4.5
  Wood and Wood Products	-19.0	-47.9
  Rubber Products	-18.1	1.9
  Furniture and Fixtures	-14.8	5.8
  Miscellaneous Manufactures	-4.0	30.2

  TABLE 2-A. VALUE OF NET SALES, March 2006 - April 2006 (concluded)
  (1994=100)

  Gainers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Petroleum Products	12.8	-8.2
  Leather Products*	10.6	-9.0
  Publishing and Printing*	1.1	17.4
  Losers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Transport Equipment	-21.2	2.3
  Food Manufacturing	-4.9	5.3
  Beverages	-13.0	17.0
  Textiles	-18.5	5.1
  Footwear and Wearing Apparel*	-11.2	19.4
  Electrical Machinery	-3.8	15.7
  Non-Metallic Mineral Products	-10.2	30.1
  Basic Metals	-5.6	11.1
  Miscellaneous Manufactures	-24.8	36.6
  Tobacco	-6.7	14.9
  Furniture and Fixtures	-27.7	32.8
  Paper and Paper Products	-8.8	0.6
  Fabricated Metal Products*	-9.3	28.9
  Rubber Products	-19.3	5.0
  Chemical Products	-1.0	14.8
  Wood and Wood Products	-10.5	21.8
  Machinery Excluding Electrical*	-3.5	8.7

  
  Note: * - new sectors in the 1994-based series

  Sectors are ranked according to their contribution to the overall 1994-based April 2006 growth rate.

  Year-on-year growth rates are computed by dividing the current month value of net sales by previous year same month value of net sales less 1.

  Month-on-month growth rates are computed by dividing the current month value of net sales by previous month value of net sales less 1.

  TABLE 2-B. VOLUME OF NET SALES, March 2006 - April 2006
  (1994=100)

  Gainers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Basic Metals	13.4	17.4
  Fabricated Metal Products*	6.1	23.7
  Leather Products*	51.4	-19.2
  Food Manufacturing	0.3	11.9
  Losers	Year-on-Year Growth (percent)
  	April 2006	March 2006 (revised)
  Electrical Machinery	-47.9	-38.9
  Transport Equipment	-39.2	-21.4
  Non-Metallic Mineral Products	-33.7	-13.4
  Machinery Excluding Electrical*	-67.8	-69.4
  Footwear and Wearing Apparel*	-18.6	-11.9
  Beverages	-10.3	2.2
  Textiles	-17.7	-4.0
  Petroleum Products	-3.9	-12.6
  Paper and Paper Products	-18.8	-12.3
  Wood and Wood Products	-25.0	-51.8
  Chemical Products	-2.2	10.6
  Publishing and Printing*	-16.0	-2.1
  Rubber Products	-28.4	-5.3
  Tobacco	-3.3	39.6
  Furniture and Fixtures	-6.0	15.7
  Miscellaneous Manufactures	-2.1	27.4

  TABLE 2-B. VOLUME OF NET SALES, March 2006 - April 2006 (concluded)
  (1994=100)

  Gainers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Petroleum Products	11.4	-7.8
  Leather Products*	10.6	-10.5
  Publishing and Printing*	1.1	17.4
  Losers	Month-on-Month Growth (percent)
  	April 2006	March 2006 (revised)
  Transport Equipment	-21.3	1.1
  Food Manufacturing	-5.5	5.0
  Footwear and Wearing Apparel*	-19.2	19.4
  Beverages	-13.0	8.3
  Textiles	-18.5	5.4
  Electrical Machinery	-4.0	14.9
  Non-Metallic Mineral Products	-11.5	28.4
  Basic Metals	-5.8	11.0
  Miscellaneous Manufactures	-24.1	37.3
  Tobacco	-6.7	14.9
  Furniture and Fixtures	-27.6	35.4
  Fabricated Metal Products*	-9.3	28.9
  Paper and Paper Products	-8.5	-0.1
  Rubber Products	-24.1	5.0
  Chemical Products	-1.1	15.8
  Wood and Wood Products	-10.5	22.1
  Machinery Excluding Electrical*	-5.4	9.7

  
  Note: * - new sectors in the 1994-based series

  Sectors are ranked according to their contribution to the overall 1994-based April 2006 growth rate.

  Year-on-year growth rates are computed by dividing the current month volume of net sales by previous year same month volume of net sales less 1.

  Month-on-month growth rates are computed by dividing the current month volume of net sales by previous month volume of net sales less 1.

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  Source:   National Statistics Office
                   Manila, Philippines