Monthly Integrated Survey of Selected Industries : December 2001

Reference Number: 

2002-018

Release Date: 

Wednesday, February 27, 2002

 

·  Value of Production Index (VaPI) follows a downtrend both in the 1994 and 1985-based series

The Value of Production Index (VaPI) of the manufacturing industry in December 2001 declined by 0.1 percent and 4.4 percent, respectively, both in the 1994 and 1985-based series, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).

YEAR-ON-YEAR GROWTH RATES OF VaPI
TOTAL MANUFACTURING

Series

December 2001

November 2001
(revised)

1994-based

- 0.1

0.9

1985-based

- 4.4

- 3.5

 

The VaPI in both the 1994 and 1985-based series depicted the same trend from December 2000 to December 2001 (see Figure 1).

Leather products registered the highest decrease of 62.7 percent in the 1994-based series due to its weak demand in the export market. Other sectors that pulled down the VaPI in both series were the following: petroleum products, tobacco, paper & paper products and wood & wood products (see Annex 1-A).

·  Volume of Production Index (VoPI) continues its downtrend

For four consecutive months since September 2001, the VoPI for both the 1994 and 1992-based series continued to weaken, registering 11.3 percent and 4.5 percent decreases, respectively, in December 2001. Double-digit decreases for both series were observed in the following sectors: petroleum products, basic metals, tobacco, paper & paper products and wood & wood products (see Annex 1-B).

YEAR-ON-YEAR GROWTH RATES OF VoPI
TOTAL MANUFACTURING

Series

December 2001

November 2001
(revised)

1994-based

- 11.3

- 10.8

1992-based

- 4.5

- 4.3

 

Generally, the VoPI showed the same trend for both series from December 2000 to December 2001 (see Figure 3).

·  Value of Net Sales on the downhill

The value of net sales in December 2001 fell by 0.4 percent and 2.8 percent in the 1994 and 1985-based series, respectively. Leather products posted the highest decrease of 63 percent in the 1994-based series. Double-digit decreases for both series were likewise observed in the following sectors: petroleum products, tobacco, paper & paper products, furniture & fixtures and wood & wood products (see Annex 2-A).

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

Series

December 2001

November 2001
(revised)

1994-based

- 0.4

2.6

1985-based

- 2.8

2.1

 

·  Volume of Net Sales continues to decline

The volume of net sales registered 5.3 percent and 2.9 percent deceleration in December 2001 both in the 1994 and 1992-based series. Sectors that posted double-digit decreases were the following: tobacco, paper & paper products, furniture & fixtures and wood & wood products (see Annex 2-B).

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

Series

December 2001

November 2001
(revised)

1994-based

- 5.3

- 2.9

1992-based

- 2.9

0.4

 

·  Producer's Price Index continues to increase

Producer's price index (PPI) for total manufacturing increased by 12.7 percent and 0.2 percent in the 1994 and 1992-based series, respectively, for December 2001. Double-digit year-on-year increases for both series were observed in tobacco and cement (see Table 5).

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

Series

December 2001

November 2001
(revised)

1994-based

12.7

13.2

1992-based

0.2

0.9

 

·  Capacity Utilization

The proportion of responding establishments that operated at full capacity (90%-100%) in December 2001 were 20.5 percent and 21.7 percent in the 1994 and 1985-based series, respectively. About 41 percent of the responding establishments operated at 70% - 89% capacity in the 1994-based series, higher by 0.5 percentage point in the 1985-based series at 40.5 percent. Responding establishments operating below 70% capacity accounted for 38.4 percent and 37.8 percent in the 1994 and 1985-based series, respectively.

DISTRIBUTION OF KEY MANUFACTURING ESTABLISHMENTS
BY CAPACITY UTILIZATION
TOTAL MANUFACTURING, DECEMBER 2001

(In percent)

Capacity Utilization

1994-based

1985-based

Below 50%

14.1

12.8

50% - 59%

11.0

11.1

60% - 69%

13.3

13.9

70% - 79%

18.6

18.1

80% - 89%

22.4

22.4

90% - 100%

20.5

21.7

 

Average capacity utilization rate for December 2001 for total manufacturing was estimated at 76.9 percent in the 1994-based series, 2.2 percentage point lower than the 79.1 percent registered in the 1985-based series. Sectors that posted more than 80% capacity utilization rates in the 1994-based series were the following: rubber products, petroleum products and machinery excluding electrical. On the other hand, sectors registering more than 80% capacity utilization in the 1985-based series were the following: food manufacturing, wood & wood products, furniture & fixtures, rubber products and petroleum products (see Annex 3-A).

AVERAGE CAPACITY UTILIZATION FOR TOTAL MANUFACTURING
(In percent)

Series

December 2001

November 2001
(revised)

1994-based

76.9

76.6

1985-based

79.1

77.5

 

·  Response Rates

The response rates for December 2001 in the 1994-based and 1985-based series are 86.7 percent and 88.1 percent, respectively. These are based from the results of year-end responses of 500 and 450 sample establishments of the respective series (see Table 6).

RESPONSE RATES FOR TOTAL MANUFACTURING
(In percent)

Series

December 2001

November 2001
(revised)

1994-based

86.7

91.3

1985-based

88.1

93.2

 

Notes: Revisions on the figures were due to the inclusion of reports of the sample establishments which were not received on the cut off date.

 

 

(Sgd.) CARMELITA N. ERICTA
Administrator


ANNEX 1-A

VALUE OF PRODUCTION INDEX, DECEMBER 2001

Gainers

Year-on-Year Growth (%)

1994-based

1985-based

Food Manufacturing

13.7

16.2

Chemical Products

15.7

5.5

Footwear & Wearing Apparel*

30.7

n.a.

Publishing & Printing*

58.3

0.3

Non-Metallic Mineral Products

20.1

13.8

Machinery Excluding Electrical*

39.3

n.a.

Beverages

2.0

2.0

Transport Equipment

1.6

1.3

Miscellaneous Manufactures

5.0

25.1

Losers

Year-on-Year Growth (%)

1994-based

1985-based

Petroleum Products

- 23.9

- 23.8

Tobacco

- 34.1

- 34.1

Paper & Paper Products

- 30.6

- 31.1

Basic Metals

- 9.1

- 11.1

Electrical Machinery

- 3.2

- 6.7

Fabricated Metal Products*

- 19.0

n.a.

Textiles

- 6.6

- 7.3

Wood & Wood Products

- 10.4

- 24.0

Leather Products*

- 62.7

n.a.

Rubber Products

- 7.3

- 9.2

Furniture & Fixtures

- 5.9

- 3.3

 

 

Gainers

Month-on-Month Growth (%)

1994-based

1985-based

Basic Metals

49.7

24.9

Beverages

17.5

17.5

Footwear & Wearing Apparel*

18.4

n.a.

Chemical Products

6.4

5.4

Non-Metallic Mineral Products

16.1

15.0

Publishing & Printing*

24.2

n.a.

Petroleum Products

1.4

1.5

Food Manufacturing

0.7

11.4

Leather Products*

22.7

n.a.

Furniture & Fixtures

3.1

3.0

Rubber Products

2.7

2.7

Losers

Month-on-Month Growth (%)

1994-based

1985-based

Transport Equipment

- 25.6

- 26.3

Tobacco

- 38.7

- 38.7

Textiles

- 17.3

- 19.2

Electrical Machinery

- 3.7

- 3.7

Fabricated Metal Products*

- 18.4

n.a.

Wood & Wood Products

- 16.6

- 15.7

Machinery Excluding Electrical*

- 6.3

n.a.

Miscellaneous Manufactures

- 7.0

- 1.7

Paper & Paper Products

- 0.2

- 3.5

 

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

Gainers

Year-on-Year Growth (%)

1994-based

1992-based

Footwear & Wearing Apparel*

124.0

n.a.

Food Manufacturing

12.5

22.6

Machinery Excluding Electrical*

24.7

n.a.

Non-Metallic Mineral Products

8.3

1.5

Publishing & Printing*

17.3

n.a.

Miscellaneous Manufactures

1.7

- 19.9

Losers

Year-on-Year Growth (%)

1994-based

1992-based

Petroleum Products

- 14.7

- 16.0

Basic Metals

- 30.5

- 14.7

Tobacco

- 45.0

- 42.6

Paper & Paper Products

- 41.3

- 32.7

Beverage

- 12.3

0.6

Chemical Products

- 5.7

0.0

Textile

- 15.4

- 6.9

Transport Equipment

- 6.9

- 5.3

Fabricated Metal Products*

- 21.5

n.a.

Electrical Machinery

- 30.5

- 2.4

Wood & Wood Products

- 10.8

- 24.1

Rubber Products

- 10.7

- 9.6

Furniture & Fixtures

- 9.9

- 5.5

Leather Products*

- 42.6

n.a.

Gainers

Month-on-Month Growth (%)

1994-based

1992-based

Basic Metals

49.5

21.0

Beverage

17.6

17.5

Chemical Products

6.6

4.2

Footwear & Wearing Apparel*

16.9

n.a.

Petroleum Products

5.2

4.6

Non-Metallic Mineral Products

16.4

12.9

Publishing & Printing*

24.2

n.a.

Food Manufacturing

0.6

11.6

Leather Products*

22.7

n.a.

Paper & Paper Products

1.6

- 2.9

Furniture & Fixtures

3.1

3.0

Rubber Products

2.7

2.7

Losers

Month-on-Month Growth (%)

1994-based

1992-based

Transport Equipment

- 25.6

- 26.2

Tobacco

- 38.7

- 38.7

Textile

- 16.8

- 19.1

Fabricated Metal Products*

- 18.4

n.a.

Wood & Wood Products

- 16.6

- 15.7

Machinery Excluding Electrical*

- 6.3

n.a.

Miscellaneous Manufactures

- 6.9

- 1.7

Electrical Machinery

- 3.8

- 2.8

 

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

Gainers

Year-on-Year Growth (%)

1994-based

1985-based

Food Manufacturing

6.0

-3.6

Chemical Products

9.2

15.8

Publishing & Printing*

43.7

n.a.

Electrical Machinery

4.4

4.5

Miscellaneous Manufactures

35.3

12.3

Non-Metallic Mineral Products

7.8

1.6

Rubber Products

34.0

51.3

Fabricated Metal Products*

7.4

n.a.

Losers

Year-on-Year Growth (%)

1994-based

1985-based

Petroleum Products

- 15.6

- 15.6

Basic Metals

- 9.5

- 4.4

Footwear & Wearing Apparel*

- 9.1

n.a.

Tobacco

- 12.1

- 12.1

Paper & Paper Products

- 18.1

- 18.6

Machinery Excluding Electrical*

- 17.8

n.a.

Transport Equipment

- 3.4

3.9

Furniture & Fixtures

- 27.6

- 15.4

Wood & Wood Products

- 14.1

- 14.1

Textiles

- 2.9

- 0.5

Leather Products*

- 63.0

n.a.

Beverages

- 0.8

- 3.7

Gainers

Month-on-Month Growth (%)

1994-based

1985-based

Beverages

19.4

19.7

Basic Metals

12.9

14.3

Footwear & Wearing Apparel*

16.8

n.a.

Petroleum Products

3.8

3.8

Chemical Products

2.6

1.4

Food Manufacturing

0.7

- 5.4

Leather Products*

1.6

n.a.

Paper & Paper Products

0.0

0.0

Losers

Month-on-Month Growth (%)

1994-based

1985-based

Electrical Machinery

- 9.6

- 13.1

Transport Equipment

- 16.5

- 14.3

Tobacco

- 16.4

- 16.4

Non-Metallic Mineral Products

- 10.5

- 13.6

Fabricated Metal Products*

- 16.3

n.a.

Wood & Wood Products

- 19.0

- 19.9

Publishing & Printing*

- 14.6

n.a.

Miscellaneous Manufactures

- 10.4

- 12.0

Textiles

3.3

- 6.0

Machinery Excluding Electrical*

- 4.8

n.a.

Furniture & Fixtures

- 9.0

- 28.8

Rubber Products

- 8.1

- 7.8

 

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

Gainers

Year-on-Year Growth (%)

1994-based

1992-based

Footwear & Wearing Apparel*

55.8

n.a.

Miscellaneous Manufactures

138.7

- 28.1

Food Manufacturing

4.9

1.8

Non-Metallic Mineral Products

12.7

- 10.4

Rubber Products

29.0

50.6

Publishing & Printing*

6.5

n.a.

Fabricated Metal Products*

4.1

n.a.

Losers

Year-on-Year Growth (%)

1994-based

1992-based

Electrical Machinery

- 25.1

9.4

Basic Metals

- 30.8

- 7.5

Chemicals

- 10.9

9.8

Tobacco

- 26.6

- 23.5

Beverages

- 14.7

- 5.1

Petroleum Products

- 5.4

- 6.9

Transport Equipment

- 11.5

- 2.9

Paper & Paper Products

- 30.7

- 20.4

Textiles

- 12.0

- 0.1

Machinery Excluding Electrical*

- 26.4

n.a.

Furniture & Fixtures

- 30.6

- 17.3

Wood & Wood Products

- 14.5

- 14.2

Leather Products*

- 43.0

n.a.

Gainers

Month-on-Month Growth (%)

1994-based

1992-based

Beverages

19.5

19.7

Petroleum Products

7.6

6.9

Basic Metals

12.8

12.9

Footwear & Wearing Apparel*

15.3

n.a.

Chemicals

2.8

0.3

Food Manufacturing

0.6

- 5.2

Paper & Paper Products

1.8

0.6

Leather Products*

1.6

n.a.

Losers

Month-on-Month Growth (%)

1994-based

1992-based

Electrical Machinery

- 9.6

- 12.4

Transport Equipment

- 16.5

- 14.2

Tobacco

- 16.4

- 16.4

Non-Metallic Mineral Products

- 10.3

- 13.6

Fabricated Metal Products*

- 16.3

n.a.

Wood & Wood Products

- 19.0

- 19.9

Publishing & Printing*

- 14.6

n.a.

Miscellaneous Manufactures

- 10.3

- 12.0

Textiles

- 2.7

- 5.9

Machinery Excluding Electrical*

- 4.8

n.a.

Furniture & Fixtures

- 8.9

- 28.8

Rubber Products

- 8.1

- 7.8

 

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

Sector

1994-based

1985-based

MANUFACTURING

76.9

79.1

Food Manufacturing

79.4

82.1

Beverage

74.1

75.4

Tobacco

73.8

79.9

Textile

74.9

75.9

Footwear & Wearing Apparel*

75.3

n.a.

Wood & Wood Products

77.6

80.1

Furniture & Fixtures

66.9

82.1

Paper & Paper Products

78.5

75.3

Publishing & Printing*

78.1

n.a.

Leather Products*

44.5

n.a.

Rubber Products

82.2

82.9

Chemical Products

70.1

77.6

Petroleum Products

84.2

84.4

Non-Metallic Mineral Products

78.1

74.3

Basic Metals

74.3

75.1

Fabricated Metal Products*

72.1

n.a.

Machinery Excluding Electrical*

84.5

n.a.

Electrical Machinery

76.3

73.1

Transport Equipment

67.5

68.5

Miscellaneous Manufactures

77.6

74.8

 

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

 

Source: National Statistics Office
Manila, Philippines

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