• Value of Production contracts in August 2015

Value of Production Index (VaPI) for total manufacturing shrank at a slower pace by negative 4.6 percent in August 2015 compared with positive 4.5 percent a year ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Major sectors that significantly contributed to the negative performance of VaPI were the following: furniture and fixtures (-41.4%), wood and wood products (-35.2%), basic metals (-32.4%), petroleum products (-22.0%), food manufacturing (-13.9%), and printing (-10.5%). Refer to Tables 1-A and 1.

• Volume of Production rebounds

Volume of Production Index (VoPI) in contrast, exhibited a year-on-year growth of 3.7 percent in August 2015. This was attributed to the increases in VoPI observed in  nine major sectors led by miscellaneous manufactures (75.9%), outpacing the decrements in 11 major sectors. Three other major sectors that contributed to the increase in VoNSI were tobacco products (24.0%), electrical machinery (14.6%), and fabricated metal products (11.6%). Refer to Tables 1-B   and 2.

• Value of Net Sales Index decelerates further

Value of Net Sales Index (VaNSI) continued to decrease as it posted a negative 7.2 percent in August 2015 compared with a year ago growth of 1.6 percent. The contraction in VaNSI were exhibited by fifty percent of the 20 major sectors, with two-digit decline noted in the following: printing (-47.8%), basic metals (-37.9%), furniture and fixtures (-27.2%), petroleum products (-25.0%), leather products (-19.5%), and footwear and wearing apparel (-18.2%).  Refer to Tables 2-A and 3.

• Volume of Net Sales Index manifests growth

Volume of Net Sales Index (VoNSI) increased by 0.9 percent in August 2015 compared with 2.8 percent during the same month of last year. The increase in 13 major sectors, pulled up VoNSI. Seven major sectors exhibiting two-digit growth in VoNSI were wood and wood products (37.9%), non-metallic mineral products (28.6%), electrical machinery (23.6%), and fabricated metal products (22.3%), miscellaneous manufactures (16.4%), transport equipment (15.6%) and tobacco products (13.6%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in August 2015 remains at 83.3 percent

Average capacity utilization rate in August 2015 for total manufacturing was recorded at 83.3 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These were:

• petroleum products (88.3%)
• basic metals (88.3%)
• non-metallic mineral products (86.2%)
• machinery except electrical (85.0%)
• electrical machinery (84.4%)
• food manufacturing (84.1%)
• chemical products (83.6%)
• paper and paper products (83.1%)
• rubber and plastic products (82.4%)
• wood and wood products (80.6%)
• printing (80.1%)

The proportion of establishments that operated at full capacity (90% to 100%) was 24.1 percent in August 2015. About 57.3 percent of the establishments operated at 70 percent to 89 percent capacity while 18.6 percent of the establishments operated below 70 percent capacity. Refer to Table 6 and B.

• Industry Coverage

The 2015 MISSI utilizes the 2009 Philippine Standard Industrial Classification (PSIC) to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were formed to comprise the industry coverage of the 2015 MISSI. These are presented in the table below.

• Response Rate

The response rates for the August 2015 MISSI and PPS are 73.7 percent and 82.8 percent, respectively.  Refer to Tables 7 and 8.

                                                                                                                FOR THE NATIONAL STATISTICIAN:

TABLE 1-A Value of Production Index, July 2015– August 2015

   (2000 =100)

Notes:                

TABLE 1-B  Volume of Production Index, July 2015– August 2015

(2000 = 100)

Notes:                

TABLE 2-A  Value of Net Sales Index, July 2015– August 2015

(2000 =100)

Notes:                

TABLE 2-B  Volume of Net Sales Index, July 2015– August 2015

(2000 = 100)

Notes: