·  Value of Production Index (VaPI) continued to post year-on-year increases both in 1994 and 1985-based series

Value of Production Index (VaPI) of the manufacturing industry in August 2001 registered year-on-year increases both in 1994 and 1985-based series at 15.2 percent and 10.3 percent, respectively, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).

YEAR-ON-YEAR GROWTH RATES OF VaPI
TOTAL MANUFACTURING

The highest VaPI in the 1994 and 1985-based series were registered in August 2001 at 213.3 and 757.5, respectively (see Fig. 1).

In the 1994-based series, double-digit year-on-year increases were observed from August 2000 to April 2001, June 2001 and August 2001. For 1994 and 1985-based series, the highest year-on-year increases of VaPI were posted in November 2000 at 26.0 percent and 53.1 percent, respectively (see Fig. 2).

Sectors that posted double-digit year-on-year increases both in 1985 and 1994-based series were petroleum products, chemical products, transport equipment, non-metallic mineral products, basic metals and tobacco (see Annex 1-A).

·  Volume of Production Index (VoPI) went up

The VoPI made a turn around after posting negative growths since April 2001 in the 1994-based series. It grew by 2.2 percent and 7.7 percent in the 1994-based and 1992-based series, respectively. Among the 20 major sectors in the 1994-based series, footwear and wearing apparel sector posted the highest increase of 59.7 percent, followed by petroleum products at 19.8 percent. Double-digit increases for both series were observed in the following sectors: petroleum products, food manufacturing, chemical products and transport equipment (see Annex 1-B).

YEAR-ON-YEAR GROWTH RATES OF VoPI
TOTAL MANUFACTURING

The highest VoPI in the 1994-based series was observed in October 2000 at 137.5 while in the 1992-based series, the highest VoPI was posted in August 2001 (see Fig. 3).

From August 2000 to August 2001, the highest year-on-year increases were observed in November 2000 at 11.9 percent and 41.4 percent in the 1994-based and 1992-based series, respectively (see Fig. 4).

·  Value of net sales slows down

The value of net sales in August 2001 grew by a single-digit at 7.9 percent and 6.8 percent in the 1994-based and 1985-based series, respectively. Petroleum products, food manufacturing, tobacco, basic metals, miscellaneous manufactures and transport equipment registered double-digit increases for both series (see Annex 2-A).

YEAR-ON-YEAR GROWTH RATES OF VALUE OF NET SALES
TOTAL MANUFACTURING

·  Volume of net sales declined in the 1994-based series

The volume of net sales in August 2001 went down by 6.5 in the 1994-based series due to a decline in the electrical machinery sector. On the other hand, volume of net sales in the 1992-based series increased by 5.2 percent (see Fig. 6). Non-metallic mineral products, paper and paper products and rubber products registered double-digit decreases for both series (see Annex 2-B).

YEAR-ON-YEAR GROWTH RATES OF VOLUME OF NET SALES
TOTAL MANUFACTURING

·  Producer's price index continued to post increases

Producer price index (PPI) for total manufacturing increased by 12.7 percent and 2.4 percent in the 1994 and 1992-based series, respectively. Double-digit year-on-year increases for both series were observed in the following sectors: tobacco, publishing and printing, glass and glass products, cement, and fabricated metal products.

YEAR-ON-YEAR GROWTH RATES OF PRODUCER�S PRICE INDEX
TOTAL MANUFACTURING

·  Capacity Utilization

The proportions of responding establishments that operated at full capacity (90%-100%) in August 2001 were 23.5 percent and 23.7 percent in the 1994 and 1985-based series, respectively. About 38.1 percent of the responding establishments operated at 70%-89% capacity in the 1994-based series, lower by 1.5 percentage points in the 1985-based series at 39.6 percent. On the other hand, those operating below 70% capacity utilization accounted for 38.3 percent and 36.7 percent in the 1994-based and 1985-based series, respectively.

DISTRIBUTION OF KEY MANUFACTURING ESTABLISHMENTS
BY CAPACITY UTILIZATION (In percent)
TOTAL MANUFACTURING, AUGUST 2001

Average capacity utilization rate for August 2001 for total manufacturing was estimated at 78.6 percent in the 1994-based, 0.7 percentage point lower than the 79.3 percent in the 1985-based. The sectors that posted more than 80% capacity utilization rates for both series were tobacco, textile, furniture and fixtures, rubber products and petroleum products (see Annex 3-A).

AVERAGE CAPACITY UTILIZATION FOR TOTAL MANUFACTURING
(In percent)

·  Response Rates (1994-based and 1985-based series)

In August 2001, the response rates in the 1994-based and 1985-based series were 82.1 percent and 83.4 percent, respectively.

RESPONSE RATES FOR TOTAL MANUFACTURING
(In percent)

ANNEX 1-A

VALUE OF PRODUCTION INDEX, AUGUST 2001

ANNEX 1-A

VALUE OF PRODUCTION INDEX, AUGUST 2001(concluded)

Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based August 2001 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.

ANNEX 1-B

VOLUME OF PRODUCTION INDEX, AUGUST 2001

ANNEX 1-B

VOLUME OF PRODUCTION INDEX, AUGUST 2001 (concluded)

Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based August 2001 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.

ANNEX 2-A

VALUE OF NET SALES, AUGUST 2001

ANNEX 2-A

VALUE OF NET SALES, AUGUST 2001 (concluded)

Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based August 2001 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.

ANNEX 2-B

VOLUME OF NET SALES, AUGUST 2001

ANNEX 2-B

VOLUME OF NET SALES, AUGUST 2001(concluded)

Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based August 2001 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.

ANNEX 3-A

AVERAGE CAPACITY UTILIZATION BY MAJOR SECTOR, AUGUST 2001

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