|
Total Manufacturing |
February 2007 |
January 2007 |
|
Year-on-Year Growth |
|
|
|
Production Index |
|
|
|
Value(VaPI) |
-8.3 |
-0.7r |
|
Volume(VoPI) |
-10.3 |
-0.4r |
|
Net Sales Index |
|
|
|
Value |
5.5 |
10.9r |
|
Volume |
2.6 |
7.6r |
|
Producer Price Index |
2.2 |
-0.3r |
|
Average Capacity Utilization |
79.8 |
80.1r |
r-revised
· Value of Production slides further in February 2007
Value of Production Index (VaPI) for the manufacturing industry continued to fall as it posted a decrease of 8.3 percent in February 2007, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Eleven of the 20 major sectors posted decreases in production, with two-digit decreases registered by the following: textiles, petroleum products, machinery excluding electrical, tobacco, footwear and wearing apparel, beverages and rubber products. Refer to Tables 1-A and 1.
Likewise, VaPI recorded a month-on-month decline of 8.8 percent in February 2007 due to the significant decreases observed in the following sectors: petroleum products, rubber products and beverages. Refer to Tables 1-A and 1.
· Volume of Production Index (VoPI) also posts two-digit decline
Volume of Production Index (VoPI) on a year-on-year basis dropped by 10.3 percent in February 2007. Thirteen of the 20 major sectors reported declines in output, with two-digit decreases observed in the following: textiles, machinery excluding electrical, tobacco, footwear and wearing apparel, petroleum products, beverages and rubber products. Refer to Tables 2 and 1-B.
Also, VoPI registered a month-on-month slumped of 10.2 percent in February 2007. This was brought about by the shrinking output of petroleum products and rubber products. Refer to Tables 2 and 1-B.
· Value of Net Sales sustains growth
Meanwhile, Value of Net Sales continued to grow as it posted a year-on-year increment of 5.5 percent in February 2007. Major sectors that contributed to the growth were the following: fabricated metal products, footwear and wearing apparel, non-metallic mineral products, publishing and printing, wood and wood products, chemical products, transport equipment and rubber products. Refer to Tables 2-A and 3.
On a monthly basis, Value of Net Sales fell by 4.1 percent in February 2007 due to the poor sales performance of the following major sectors: footwear and wearing apparel, basic metals and food manufacturing. Refer to Tables 2-A and 3.
· Volume of Net Sales also gains
Volume of Net Sales posted a year-on-year growth of 2.6 percent in February 2007. Twelve of the 20 major sectors reported growth in sales volume, with significant expansions reported by the following sectors: fabricated metal products, wood and wood products, non-metallic mineral products, footwear and wearing apparel and chemical products. Refer to Tables 2-B and 4.
However, Volume of Net Sales on a month-on-month basis fell by 3.4 percent in February from its previous month's (revised) 6.8 percent growth. This was brought about by the reduction in sales in the following sectors: footwear and wearing apparel, basic metals, food manufacturing and rubber products. Refer to Tables 2-B and 4.
· Capacity Utilization
Average capacity utilization in February 2007 for total manufacturing was estimated at 79.8 percent. Sectors that registered more than 80% capacity utilization rates were the following: machinery excluding electrical, electrical machinery, paper and paper products, petroleum products, miscellaneous manufactures, leather products, basic metals, rubber products, food manufacturing and chemical products. Refer to Table 6..
The proportion of establishments that operated at full capacity (90% to 100%) was 9.9 percent in February 2007. More than half or 58.2 percent of the establishments operated at 70% to 89% capacity and 31.9 percent of the establishments operated below 70% capacity.
Distribution of Key Manufacturing Establishments by Capacity Utilization
Total Manufacturing, February 2007
(In percent)
|
Capacity Utilization |
Percent Share |
|
Below 50 percent |
4.1 |
|
50 percent - 59 percent |
8.9 |
|
60 percent - 69 percent |
18.9 |
|
70 percent - 79 percent |
21.3 |
|
80 percent - 89 percent |
36.9 |
|
90 percent - 100 percent |
9.9 |
· Response Rate
The response rates for the February 2007 MISSI and PPS are 90.4 percent and 93.0 percent, respectively. Refer to Tables 7 and 8.
Response Rates for Total Manufacturing
(In percent)
|
February 2007 |
January 2007 |
|
|
MISSI |
90.4 |
93.2r |
|
PPS |
93.0r |
95.7r |
r-revised
· Technical Notes
Starting 2006, weights for the Producer Price Index (PPI) are based from the results of the 2003 Annual Survey of Philippine Business and Industry (ASPBI) for manufacturing establishments with average total employment (ATE) of 20 and over.
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.
|
|
(Sgd.) CARMELITA N. ERICTA |
TABLE 1-A. VALUE OF PRODUCTION INDEX, January 2007 - February 2007
(1994 =100)
|
Gainers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Non-Metallic Mineral Products |
18.4 |
33.6 |
|
Food Manufacturing |
2.6 |
12.8 |
|
Transport Equipment |
6.3 |
5.0 |
|
Electrical Machinery |
2.4 |
1.3 |
|
Publishing and Printing |
21.0 |
13.6 |
|
Wood and Wood Products |
23.9 |
15.3 |
|
Furniture and Fixtures |
17.4 |
25.7 |
|
Fabricated Metal Products |
1.8 |
13.6 |
|
Miscellaneous Manufactures |
2.1 |
1.3 |
|
|
||
|
Losers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Petroleum Products |
-30.7 |
-5.5 |
|
Textiles |
-37.8 |
-45.2 |
|
Tobacco |
-30.0 |
-56.0 |
|
Beverages |
-12.8 |
-12.1 |
|
Footwear and Wearing Apparel |
-15.1 |
22.6 |
|
Machinery Excluding Electrical |
-32.8 |
-32.4 |
|
Chemical Products |
-2.4 |
-5.9 |
|
Basic Metals |
-2.8 |
15.0 |
|
Rubber Products |
-10.2 |
7.4 |
|
Paper and Paper Products |
-2.3 |
15.2 |
|
Leather Products |
-4.9 |
12.8 |
TABLE 1-A. VALUE OF PRODUCTION INDEX, January 2007 - February 2007
(concluded)
(1994=100)
|
Gainers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Textiles |
13.3 |
6.0 |
|
Chemical Products |
2.8 |
-17.6 |
|
Tobacco |
7.5 |
-10.9 |
|
Food Manufacturing |
1.1 |
-29.9 |
|
Wood and Wood Products |
12.6 |
-9.9 |
|
Miscellaneous Manufactures |
10.1 |
6.7 |
|
Fabricated Metal Products |
5.7 |
0.2 |
|
Transport Equipment |
1.3 |
14.9 |
|
Furniture and Fixtures |
3.2 |
-2.0 |
|
|
||
|
Losers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Petroleum Products |
-31.6 |
-8.1 |
|
Electrical Machinery |
-7.8 |
3.5 |
|
Beverages |
-10.3 |
-9.5 |
|
Basic Metals |
-5.4 |
-18.4 |
|
Footwear and Wearing Apparel |
-6.6 |
-11.7 |
|
Rubber Products |
-25.8 |
39.0 |
|
Non-Metallic Mineral Products |
-4.5 |
4.4 |
|
Paper and Paper Products |
-3.8 |
0.2 |
|
Machinery Excluding Electrical |
-4.6 |
1.2 |
|
Publishing and Printing |
-2.2 |
-9.8 |
|
Leather Products |
-2.7 |
1.9 |
Note: * - new sectors in the 1994-based series
a/ - Less than 0.1 percent increase
Sectors are ranked according to their contribution to the overall 1994-based February 2007 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.
TABLE 1-B. VOLUME OF PRODUCTION INDEX, January 2007 - February 2007
(1994 = 100)
|
Gainers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Non-Metallic Mineral Products |
12.2 |
24.6 |
|
Fabricated Metal Products |
16.2 |
16.6 |
|
Furniture and Fixtures |
35.4 |
44.9 |
|
Wood and Wood Products |
29.2 |
21.0 |
|
Transport Equipment |
2.8 |
1.2 |
|
Miscellaneous Manufactures |
3.2 |
2.7 |
|
Publishing and Printing |
0.1 |
-1.3 |
|
|
||
|
Losers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Petroleum Products |
-27.4 |
-3.8 |
|
Footwear and Wearing Apparel |
-27.7 |
3.5 |
|
Beverages |
-21.4 |
-15.8 |
|
Textiles |
-36.8 |
-44.4 |
|
Tobacco |
-29.6 |
-55.7 |
|
Food Manufacturing |
-4.0 |
10.0 |
|
Machinery Excluding Electrical |
-34.2 |
36.3 |
|
Chemical Products |
-2.8 |
-8.7 |
|
Basic Metals |
-4.1 |
16.6 |
|
Rubber Products |
-16.5 |
0.8 |
|
Paper and Paper Products |
-4.1 |
17.6 |
|
Leather Products |
-8.5 |
8.6 |
|
Electrical Machinery |
-0.1 |
-0.2 |
TABLE 1-B. VOLUME OF PRODUCTION INDEX, January 2007 - February 2007
(concluded)
(1994=100)
|
Gainers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Chemical Products |
3.6 |
-18.6 |
|
Textiles |
13.2 |
9.6 |
|
Fabricated Metal Products |
16.3 |
3.7 |
|
Tobacco |
7.5 |
-10.5 |
|
Food Manufacturing |
1.1 |
-31.0 |
|
Wood and Wood Products |
12.4 |
-6.7 |
|
Miscellaneous Manufactures |
10.9 |
5.8 |
|
Transport Equipment |
1.3 |
10.6 |
|
Furniture and Fixtures |
5.1 |
-3.1 |
|
|
||
|
Losers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Petroleum Products |
-30.2 |
-5.7 |
|
Electrical Machinery |
-7.4 |
2.3 |
|
Beverages |
-9.1 |
-10.9 |
|
Basic Metals |
-6.1 |
-16.2 |
|
Footwear and Wearing Apparel |
-7.0 |
-12.6 |
|
Rubber Products |
-26.5 |
38.2 |
|
Non-Metallic Mineral Products |
-4.7 |
3.6 |
|
Paper and Paper Products |
-7.0 |
1.4 |
|
Machinery Excluding Electrical |
-3.9 |
2.2 |
|
Publishing and Printing |
-2.2 |
-25.4 |
|
Leather Products |
-2.8 |
-1.0 |
Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based February 2007 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.
TABLE 2-A. VALUE OF NET SALES, January 2007 - February 2007
(1994=100)
|
Gainers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Chemical Products |
14.1 |
6.0 |
|
Footwear and Wearing Apparel |
34.4 |
147.3 |
|
Non-Metallic Mineral Products |
33.3 |
11.1 |
|
Food Manufacturing |
5.0 |
22.0 |
|
Transport Equipment |
13.5 |
-4.8 |
|
Fabricated Metal Products |
39.7 |
-0.9 |
|
Publishing and Printing |
27.8 |
11.4 |
|
Electrical Machinery |
2.4 |
2.7 |
|
Wood and Wood Products |
23.2 |
7.7 |
|
Paper and Paper Products |
5.4 |
0.9 |
|
Rubber Products |
13.3 |
14.8 |
|
Miscellaneous Manufactures |
0.1 |
26.9 |
|
|
||
|
Losers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Textiles |
-28.4 |
-5.3 |
|
Petroleum Products |
-5.8 |
-14.3 |
|
Machinery Excluding Electrical |
-32.4 |
-33.5 |
|
Beverages |
-5.2 |
3.7 |
|
Tobacco |
-3.5 |
-28.7 |
|
Furniture and Fixtures |
-7.6 |
-6.4 |
|
Basic Metals |
-0.6 |
22.0 |
|
Leather Products* |
-20.1 |
-6.1 |
TABLE 2-A. VALUE OF NET SALES, January 2007 - February 2007(concluded)
(1994=100)
|
Gainers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Chemical Products |
5.3 |
-13.6 |
|
Fabricated Metal Products |
19.6 |
-5.6 |
|
Transport Equipment |
5.1 |
-3.5 |
|
Non-Metallic Mineral Products |
6.7 |
-1.9 |
|
Electrical Machinery |
0.9 |
-6.3 |
|
Wood and Wood Products |
7.8 |
-15.2 |
|
Tobacco |
1.6 |
-32.9 |
|
Miscellaneous Manufactures |
4.5 |
-3.5 |
|
Paper and Paper Products |
0.2 |
18.1 |
|
Furniture and Fixtures |
0.7 |
-9.1 |
|
|
||
|
Losers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Food Manufacturing |
-13.2 |
-14.0 |
|
Footwear and Wearing Apparel |
-40.0 |
45.4 |
|
Basic Metals |
-14.3 |
-14.5 |
|
Textiles |
-3.6 |
-4.0 |
|
Machinery Excluding Electrical |
-8.3 |
15.1 |
|
Petroleum Products |
-0.8 |
-0.3 |
|
Beverages |
-1.8 |
-21.3 |
|
Publishing and Printing |
-5.5 |
-8.8 |
|
Rubber Products |
-9.3 |
39.7 |
|
Leather Products* |
-0.4 |
-2.2 |
Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based February 2007 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.
TABLE 2-B. VOLUME OF NET SALES, January 2007 - February 2007
(1994=100)
|
Gainers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Chemical Products |
13.6 |
2.9 |
|
Fabricated Metal Products |
59.5 |
1.7 |
|
Non-Metallic Mineral Products |
26.4 |
3.6 |
|
Footwear and Wearing Apparel |
14.4 |
108.8 |
|
Transport Equipment |
9.7 |
-8.2 |
|
Wood and Wood Products |
28.4 |
13.0 |
|
Publishing and Printing |
5.6 |
-3.3 |
|
Paper and Paper Products |
3.5 |
2.9 |
|
Furniture and Fixtures |
6.6 |
7.9 |
|
Rubber Products |
5.2 |
7.7 |
|
Miscellaneous Manufactures |
1.2 |
28.6 |
|
|
||
|
Losers |
Year-on-Year Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Textiles |
-27.2 |
3.8 |
|
Beverages |
-14.6 |
-0.6 |
|
Machinery Excluding Electrical |
-33.9 |
-37.3 |
|
Food Manufacturing |
-1.8 |
19.0 |
|
Petroleum Products |
-1.3 |
-12.8 |
|
Basic Metals |
-2.0 |
23.7 |
|
Tobacco |
-2.9 |
-28.2 |
|
Leather Products |
-23.1 |
-9.5 |
|
Electrical Machinery |
-0.1 |
1.3 |
TABLE 2-B. VOLUME OF NET SALES, January 2007 - February 2007 (concluded)
(1994=100)
|
Gainers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Chemical Products |
6.1 |
-14.7 |
|
Fabricated Metal Products |
31.5 |
-2.4 |
|
Transport Equipment |
5.1 |
-7.1 |
|
Non-Metallic Mineral Products |
6.4 |
-2.6 |
|
Petroleum Products |
1.2 |
2.3 |
|
Electrical Machinery |
1.3 |
-7.4 |
|
Wood and Wood Products |
7.6 |
-12.1 |
|
Miscellaneous Manufactures |
5.2 |
-4.3 |
|
Tobacco |
1.6 |
-32.6 |
|
Furniture and Fixtures |
2.5 |
-10.0 |
|
|
||
|
Losers |
Month-on-Month Growth (percent) |
|
|
February 2007 |
January 2007 |
|
|
|
||
|
Food Manufacturing |
-13.2 |
-15.4 |
|
Footwear and Wearing Apparel |
-40.3 |
44.0 |
|
Basic Metals |
-15.0 |
-12.1 |
|
Textiles |
-3.7 |
-0.7 |
|
Machinery Excluding Electrical |
-7.6 |
16.2 |
|
Rubber Products |
-10.1 |
39.0 |
|
Publishing and Printing |
-5.5 |
-24.6 |
|
Paper and Paper Products |
-3.0 |
19.5 |
|
Beverages |
-0.4 |
-22.5 |
|
Leather Products |
-0.4 |
-5.0 |
Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based February 2007 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
