r-revised
                                           

·  Value of Production expands further in August 2010

Value of Production Index (VaPI) for total manufacturing maintained a year-on-year growth as it posted 16.2 percent increase in August 2010, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was accounted for by 13 major sectors with two-digit increment in production values exhibited by the following: petroleum products, transport equipment, leather products, miscellaneous manufactures, beverages, electrical machinery, machinery except electrical, basic metal, fabricated metal products, rubber and plastic products, non-metallic mineral products, paper and paper products and publishing and printing. Refer to Tables 1-A and 1.

On a monthly basis, VaPI remained its positive growth with an increase of 1.4 percent in August 2010. This was due to gains in production values in seven (7) major sectors, offsetting the decreases reported by 13 major sectors. Refer to Tables 1-A and 1.

·  Volume of Production grows in August 2010

Volume of Production Index (VoPI) continued to pick up as it reported a year-on-year increase of 25.6 percent in August 2010. Twelve of 16 major sectors exhibited significant growth in production output, with two-digit increments observed in the following: machinery except electrical, petroleum products, electrical machinery, transport equipment, miscellaneous manufactures, basic metals, beverages, fabricated metal products, leather products, non-metallic mineral products, rubber and plastic products and paper and paper products. Refer to Tables 1-B and 2.

VoPI, on a month-on-month comparison, also posted an increase of 2.3 percent in August 2010. This was accounted for by seven (7) major sectors which recorded growths in volume of production, offsetting the decreases reported by 13 major sectors. Refer to Tables 1-B and 2.

·  Value of Net Sales remains at two-digit growth rate

On year-on-year basis, Value of Net Sales Index (VaNSI) increased at a slower rate of 10.7 percent in August 2010. Significant increases in sales value were noted in 12 of the 14 major sectors that registered growth, namely: miscellaneous manufactures, electrical machinery, fabricated metal products, basic metals, petroleum products, transport equipment, paper and paper products, textiles, beverages, chemical products, leather products and machinery except electrical. Refer to Tables 2-A and 3.

On a month-on-month basis, however, VaNSI went down 2.2 percent in August 2010. This was brought about by the two-digit contraction in sales value reported by the following major sectors: wood and wood products, transport equipment, leather products and furniture and fixtures. Refer to Tables 2-A and 3.

·  Volume of Net Sales increases further

Volume of Net Sales Index (VoNSI) recorded an increment of 19.6 percent in August 2010. Fourteen of the 20 major sectors posted gains in sales output, with two-digit growth registered by the following: electrical machinery, machinery except electrical, miscellaneous manufactures, basic metals, petroleum products, fabricated metal products, textiles, chemical products, transport equipment, paper and paper products and beverages. Refer to Tables 2-B and 4.

On a monthly basis, VoNSI slid 1.4 percent in August 2010. The contraction was due to the significant reduction in sales output observed in the following: wood and wood products, transport equipment, leather products and furniture and fixtures. Refer to Tables 2-B and 4.

·  Capacity Utilization

Average capacity utilization in August 2010 for total manufacturing stood at 83.3 percent. Eleven major sectors registered capacity utilization rates of 80% and more, namely: basic metals, electrical machinery, petroleum products, machinery except electrical, non-metallic mineral products, paper and paper products, food manufacturing, miscellaneous manufactures, chemical products, rubber and plastic products and leather products. Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 16.6 percent in August 2010. About 61.8 percent of the establishments operated at 70% to 89% capacity while 21.6 percent of the establishments operated below 70% capacity.

·  Response Rates

The response rates for the August 2010 MISSI and PPS are 82.1 percent and 92.5 percent, respectively. Refer to Tables 7 and 8

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·  Technical Notes

The Monthly Integrated of Selected Industries (MISSI) is one of the designated statistical activities undertaken by the National Statistics Office to provide flash indicators on the performance of growth-oriented industries in the manufacturing sector. The survey gathers monthly data on employment, compensation, production, net sales, inventories and capacity utilization.

The MISSI utilizes the Laspeyres-type method of index computation where the weights are computed from the value of production of the Census of Philippine Business and Industry (CPBI). Rebasing of data series is undertaken as soon as new CPBI are available.

For the 2010 MISSI index series with base year of 2000, the weights of the major sectors and sub-sectors were computed from the results of the 2000 CPBI for manufacturing establishments with average total employment of 20 and over.

The indicators generated from the 2010 MISSI are Value of Production Index (VaPI), Volume of Production Index (VoPI), Value of Net Sales (VaNSI), and Volume of Net Sales (VoNSI). However, the VoPI and VoNSI are derived indicators utilizing the Producer Price Index as deflator.

The industry coverage of the 2010 MISSI conforms with the amended 1994 PSIC groupings. There are 20 major sectors as shown below with 10 further disaggregated into sub-sectors.

                                            Note: * - Major sectors categorized into sub-sectors

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.

Notes:

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based August 2010 growth rate.

a/ - less than 0.1 percent increase

Sectors are ranked according to their contribution to the overall 2000-based August 2010 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.

Notes

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based August 2010 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.

Note:

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based August 2010 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.

Note:

*  -   new sector in the 2000-based series

a/ - less than 0.1 percent increase

Sectors are ranked according to their contribution to the overall 2000-based August 2010 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.

Source:   National Statistics Office
                 Manila, Philippines