r - revised

• Value of Production Index posts a two-digit growth in December 2016

Value of Production Index (VaPI) for manufacturing climbed to 19.4 percent in December 2016 from the negative 2.7 percent during the same month of the previous year, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). The increase was attributed to the positive growth of 14 out of the 20 major sectors, with significant contribution of the heavily weighted sector of petroleum products, increasing by 73.5 percent. Other sectors with two-digit annual growth were fabricated metal products (41.0%), food manufacturing (37.7%), transport equipment (35.6%), wood and wood products (28.0%), basic metals (16.7%), beverages (14.4%), paper and paper products (12.8%), tobacco products (10.7%) and rubber and plastic products (10.5%). Refer to Tables 1-A and 1.

• Volume of Production Index also accelerates

Volume of Production Index (VoPI) increased as it posted an annual growth of about 23.0 percent in December 2016 compared with the 5.0 percent increase during the same month the previous year. The increase was brought about by the robust production performance in VaPI of 14 major sectors, showing two-digit increments: petroleum products (63.2%), fabricated metal products (41.5%), food manufacturing (35.1%), transport equipment (34.3%), wood and wood products (27.5%), machinery except electrical (23.1%), basic metals (21.2%), paper and paper products (13.6%), rubber and plastic products (13.1%), chemical products (12.0%) and  tobacco products (10.5%). Refer to  Tables 1-B and 2.

• Value of Net Sales Index rebounds

Value of Net Sales Index (VaNSI) went up by 11.6 percent, recovering  from a negative  5.9 percent  in December 2015. Among the 15 major sectors reporting increments in VaNSI, nine major sectors significantly contributed to the increase, namely: basic metals (57.2%), leather products (31.7%), tobacco products (24.3%), petroleum products (23.7%), wood and wood products (23.5%), transport equipment (20.7%), machinery except electrical (13.0%), electrical machinery (11.0%) and chemical products (10.5%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index posts two-digit increment

Volume of Net Sales Index (VoNSI) rose by 14.9 percent in December 2016, after registering a minimal increase of 1.6 percent during the same month of the previous year. Sectors that largely contributed to the growth in VoNSI were observed in the following: basic metals (63.2%), leather products (44.7%), machinery except electrical (27.8%), tobacco products (24.1%), wood and wood products (23.0%), transport equipment (19.6%), petroleum products (16.3%), electrical machinery (14.6%), chemical products (12.6%) and rubber and plastic products (11.4%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in December 2016 is 83.9 percent with petroleum products posting the highest among industries

Average capacity utilization rate in December 2016 for total manufacturing was recorded at 83.9 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These were:

• petroleum products (88.8%)
• basic metals (88.4%)
• non-metallic mineral products (86.3%)
• machinery except electrical (85.4%)
• food manufacturing (85.3%)
• chemical products (85.2%)
• electrical machinery (84.5%)
• paper and paper products (83.6%)
• rubber and plastic products (82.9%)
• wood and wood products (81.2%)
• printing (80.3%)

The proportion of establishments that operated at full capacity (90% to 100%) was recorded almost one-fourth of the total number of establishment (24.2%) in December 2016. About 58.1 percent of the establishments operated at 70 percent to 89 percent capacity while 17.7 percent of the establishments operated below 70 percent capacity. Refer to Table B and 6.

• Industry Coverage

The 2016 MISSI utilizes the 2009 PSIC to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were formed to comprise the industry coverage of the 2016 MISSI. These are presented in the table below.

• Response Rate         

The response rates for the December 2016 MISSI and PPS are 78.6 and 84.7 percent, respectively.  Refer to Tables 7 and 8.

Data of non-responding samples were estimated using short-term geometric mean of the relative values of responding samples within the industry class. Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.

TABLE 1-A Value of Production Index, November 2016 and December 2016

   (2000 =100)

TABLE 1-B  Volume of Production Index, November 2016 and December 2016

(2000 = 100)

TABLE 2-A  Value of Net Sales Index, November 2016 and December 2016

(2000 =100)

TABLE 2-B  Volume of Net Sales Index, November 2016 and December 2016

(2000 = 100)