Monthly Integrated Survey of Selected Industries : February 2012

Reference Number: 

2012-029

Release Date: 

Tuesday, April 17, 2012

 


 
Year-on-Year Growth  
        Production Index               (2000=100)  
            Value    (VaPI) 3.3r 8.4
            Volume   (VoPI) 0.5r 5.1
        Net Sales Index               (2000=100)  
            Value    (VaNSI) 4.6r -0.6
            Volume   (VoNSI) 1.8r -3.6
     Producer Price Index               (2000=100) 2.7 3.1r

  Table A   Year-on-Year Growth Rates for Production Index, Net Sales
                   Index and Producer Price Index: February 2012 and
                  January 2012

Total Manufacturing    January 2012        February 2012      

                                                   r-revised
                                           

  • Value of Production further accelerates in February 2012

Value of Production Index (VaPI) for total manufacturing inched up to 8.4 percent in February 2012, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Double-digit increases in VaPI were registered in the following nine major sectors: footwear and wearing apparel (74.1%), furniture and fixtures (66.2%), tobacco products (39.0%), petroleum products (20.5%), food manufacturing (20.1%), beverages (17.0%), non-metallic mineral products (16.1%), machinery except electrical (11.7%) and chemical products (10.5%). Refer to Tables 1-A and 1.

On a monthly basis, VaPI also grew by 5.1 percent in February 2012. Major sectors that posted double-digit increases were the following: tobacco products (27.6%), transport equipment (17.8%), footwear and wearing apparel (13.5%), chemical products (12.8%), non-metallic mineral products (12.8%) and furniture and fixtures (11.7%). Refer to Tables 1-A and 1.

 

  • Volume of Production likewise grows in February 2012.

Volume of Production Index (VoPI) continued to accelerate as it registered an annual increment of 5.1 percent in February 2012. Thirteen major sectors reported increases in VoPI led by furniture and fixtures, with a three-digit growth of 167.0 percent. Other major sectors that significantly contributed to the growth were footwear and wearing apparel (73.2%), tobacco products (40.1%), non-metallic mineral products (21.9%), beverages (15.2%), wood and wood products (11.9%) and food manufacturing (10.4%). Refer to Tables 1-B and 2.

On a month-on-month comparison, VoPI exhibited an increment of 4.7 percent in February 2012 from a decline of 7.2 percent in January 2012. Six of the 13 major sectors that reported double-digit increases were as follows: tobacco products (27.6%), furniture and fixtures (19.1%), transport equipment (18.4%), chemical products (12.9%), footwear and wearing apparel (12.4%) and non-metallic mineral products (11.1%). Refer to Tables 1-B and 2.

Figure 1

 

Figure 2

  • Value of Net Sales exhibits negative rate in February 2012

     

On a year-on-year basis, Value of Net Sales Index (VaNSI) reflected a slower decline of 0.6 percent from a positive rate of 4.6 percent in January 2012. Among the eight major sectors that posted decreases in VaNSI, six major sectors registered double-digit decreases, namely: basic metals (-50.9%), miscellaneous manufactures (-28.7%), textiles (-19.5%), furniture and fixtures (-18.0%), leather products (-15.7%) and paper and paper products (-12.8%). Refer to Tables 2-A and 3.

However, on a month-on-month basis, VaNSI moved up by 2.4 percent in February 2012. This was attributed to two major sectors, namely: transport equipment (16.4%) and footwear and wearing apparel (15.9%). Refer to Tables 2-A and 3.

  • Volume of Net Sales likewise declines

Volume of Net Sales Index (VoNSI) decreased by 3.6 percent in February 2012. Double-digit decreases were observed in the following major sectors: basic metals (-49.2%), miscellaneous manufactures (-23.7%), textiles (-18.0%), leather products (-12.2%) and paper and paper products (-11.8%). Refer to Tables 2-B and 4.

On a month-on-month change, VoNSI recovered as it posted an increase of 2.0 percent in February 2012. This was due to the double-digit increases in VoNSI noted in transport equipment (17.1%) and footwear and wearing apparel (14.8%) industry sectors. Refer to Tables 2-B and 4.

Figure 3

 

  • Capacity Utilization in February 2012

Average capacity utilization in February 2012 for total manufacturing stood at 83.3 percent. Ten of the 20 major sectors registered capacity utilization rates of more than 80 percent, namely: petroleum products (87.6%), food manufacturing (86.9%), basic metals (86.7%), electrical machinery (84.6%), non-metallic mineral products (84.3%), rubber and plastic products (83.9%), chemical products (83.4%), machinery except electrical (82.5%), miscellaneous manufactures (81.9%) and paper and paper products (80.2%). Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 20.3 percent in February 2012. About 55.5 percent of the establishments operated at 70% to 89% capacity while 24.2 percent of the establishments operated below 70% capacity.

 

Below 50 percent 4.0
50 percent - 59 percent 6.4
60 percent - 69 percent 13.8
70 percent - 79 percent 17.9
80 percent - 89 percent 37.6
90 percent - 100 percent 20.3

            Table B   Distribution of Key Manufacturing Establishments
                             by Capacity Utilization for Total Manufacturing:
                             February 2012

Capacity Utilization Percent Share

 

 

                      


TECHNICAL NOTES

  • Introduction

    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.

    Beginning with the January 2012 MISSI, the monthly report for the survey will be released earlier, that is, 45 days after each reference month instead of the 55 days.

    The indicators generated from the 2012 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 2012 Producer Price Index as deflator.

  • Method of Index Computation

    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).

    For the 2012 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 weights are computed from the value of products sold plus change in inventories.

    The formulas in the computation are as follows:

    Figure 1

    Figure 2

    Figure 3

    Figure 4

    Figure 5

    Figure 6

    Figure 7

    Figure 8

    Figure 9

  • Industry Coverage

    The industry coverage of the 2012 MISSI conforms with the amended 1994 PSIC groupings. There are 20 major sectors as shown below with 10 further disaggregated into sub-sectors.

     

     
    1994 PSIC CODE INDUSTRY DESCRIPTION
    15 except 155 Food Manufacturing*
    155 Beverages
    16 Tobacco products
    17 Textiles*
    18,174 and 192 Footwear and wearing apparel
    191 Leather products
    20 Wood and wood products*
    21 Paper and paper products
    22 Publishing and printing
    23 Petroleum products*
    24 Chemical products*
    25 Rubber and plastic products*
    26 Non-metallic mineral products*
    27 Basic metals*
    28 Fabricated metal products
    29 and 30 Machinery except electrical*
    31 and 32 Electrical machinery*
    34 and 35 Transport equipment
    36 Furniture and fixtures
    33, 37 and 39 Miscellaneous manufactures

                                                 Note: * - Major sectors categorized into sub-sectors

     

  • Response Rate

    The response rates for the February 2012 MISSI and PPS are 78.5 percent and 87.6 percent, respectively. Refer to Tables 7 and 8

 

MISSI 78.5 88.3r
PPS 87.6r 91.7r

  Table C   Response Rates for Total Manufacturing
           (In percent)

  February 2012 January 2012
(revised)

 

 

Data of non-responding sample establishments are estimated based on previous records and other available sources. Revisions to the preliminary estimated are done upon receipt of actual reports of late respondents.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                       (Sgd.) CARMELITA N. ERICTA
                                                                                                                           Administrator

 

 

 

 

 

 


 

TABLE 1-A. Value of Production Index, January 2012 - February 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
February 2012 January 2012
(revised)
 

Food Manufacturing

20.1

16.2

Footwear and Wearing Apparel

74.1

31.8

Petroleum Products

20.5

16.1

Machinery Except Electrical

11.7

1.6

Beverages

17.0

-3.9

Chemical Products

10.5

-5.6

Tobacco Products

39.0

-23.6

Electrical Machinery

2.8

-6.4

Furniture and Fixtures

66.2

42.0

Non-Metallic Mineral Products

16.1

2.0

Transport Equipment

7.4

-8.8

Rubber and Plastic Products

5.7

9.5

Wood and Wood Products

0.8

2.0

Paper and Paper Products

a/

-7.9

 
Losers Year-on-Year Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-33.1

-6.6

Miscellaneous Manufactures

-32.9

-8.2

Textiles

-13.8

-13.8

Fabricated Metal Products

-13.5

-27.3

Leather Products

-20.8

-22.9

Publishing and Printing

-1.2

21.4

 

TABLE 1-A. Value of Production Index, January 2012 - February 2012 (concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
February 2012 January 2012
(revised)
 

Food Manufacturing

9.5

-1.9

Chemical Products

12.8

-17.7

Transport Equipment

17.8

-9.2

Machinery Except Electrical

5.7

-4.1

Tobacco Products

27.6

-44.6

Electrical Machinery

2.7

-6.6

Footwear and Wearing Apparel

13.5

7.8

Non-Metallic Mineral Products

12.8

-10.0

Petroleum Products

2.7

10.0

Beverages

3.6

-12.7

Miscellaneous Manufactures

5.9

17.7

Fabricated Metal Products

6.4

-1.8

Furniture and Fixtures

11.7

17.0

Publishing and Printing

1.9

-20.7

 
Losers Month-on-Month Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-21.0

-5.8

Wood and Wood Products

-9.9

3.9

Paper and Paper Products

-2.2

7.6

Leather Products

-10.6

16.9

Textiles

-0.8

-0.2

Rubber and Plastic Products

-0.3

-4.2

Notes:

a/ - Less than 0.1 percent increase

Sectors are ranked according to their contribution to the overall 2000-based February 2012 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 2012 - February 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
February 2012 January 2012
(revised)
 

Footwear and Wearing Apparel

73.2

32.4

Food Manufacturing

10.4

6.5

Furniture and Fixtures

167.0

112.3

Chemical Products

9.9

-6.6

Non-Metallic Mineral Products

21.9

7.6

Petroleum Products

2.9

4.4

Transport Equipment

5.4

-11.9

Electrical Machinery

1.2

-6.4

Wood and Wood Products

11.9

13.2

Rubber and Plastic Products

0.9

4.1

Tobacco Products

40.1

-22.9

Beverages

15.2

-5.4

Paper and Paper Products

1.1

-6.8

 
Losers Year-on-Year Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-30.7

-5.5

Miscellaneous Manufactures

-28.2

-1.0

Machinery Except Electrical

-3.3

-10.3

Textiles

-12.2

-13.4

Fabricated Metal Products

-8.9

-22.5

Leather Products

-17.5

-19.8

Publishing and Printing

-1.3

21.4

 

TABLE 1-B. Volume of Production Index, January 2012 - February 2012(concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
February 2012 January 2012
(revised)

Food Manufacturing

9.4

-12.4

Chemical Products

12.9

-19.3

Transport Equipment

18.4

-10.3

Tobacco Products

27.6

-44.0

Electrical Machinery

2.4

-7.5

Machinery Except Electrical

4.5

-9.9

Footwear and Wearing Apparel

12.4

9.7

Non-Metallic Mineral Products

11.1

-8.7

Beverages

3.6

-13.2

Furniture and Fixtures

19.1

6.2

Miscellaneous Manufactures

5.9

12.2

Fabricated Metal Products

6.3

0.6

Publishing and Printing

1.9

-20.7

 
Losers Month-on-Month Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-21.6

5.7

Petroleum Products

-3.2

7.5

Paper and Paper Products

-3.1

11.8

Wood and Wood Products

-9.9

15.4

Leather Products

-10.6

22.6

Textiles

-0.8

-2.1

Rubber and Plastic Products

-0.3

-10.9

Notes

Sectors are ranked according to their contribution to the overall 2000-based February 2012 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 Index, January 2012 - February 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
February 2012 January 2012
(revised)
 

Footwear and Wearing Apparel

66.9

24.2

Food Manufacturing

11.6

9.1

Machinery Except Electrical

15.6

10.8

Petroleum Products

12.5

29.1

Chemical Products

4.9

1.1

Beverages

7.3

8.2

Tobacco Products

16.1

4.0

Transport Equipment

5.3

-3.3

Non-Metallic Mineral Products

7.6

21.1

Rubber and Plastic Products

10.7

14.1

Wood and Wood Products

13.7

20.2

Publishing and Printing

4.4

14.4

 
Losers Year-on-Year Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-50.9

-23.0

Electrical Machinery

-5.4

-5.5

Miscellaneous Manufactures

-28.7

0.7

Textiles

-19.5

-0.2

Paper and Paper Products

-12.8

-12.1

Furniture and Fixtures

-18.0

-19.5

Fabricated Metal Products

-4.8

-14.9

Leather Products

-15.7

-11.1

 

TABLE 2-A. Value of Net Sales Index, January 2012 - February 2012
(concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
February 2012 January 2012
(revised)
 

Food Manufacturing

7.3

-10.1

Chemical Products

9.4

-15.6

Transport Equipment

16.4

0.5

Electrical Machinery

2.8

-0.6

Footwear and Wearing Apparel

15.9

35.2

Miscellaneous Manufactures

9.3

21.3

Machinery Except Electrical

1.9

5.3

Fabricated Metal Products

8.0

-0.2

Paper and Paper Products

1.7

5.1

Publishing and Printing

2.8

-12.3

 
Losers Month-on-Month Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-20.3

-28.7

Petroleum Products

-2.2

1.9

Non-Metallic Mineral Products

-5.7

14.3

Beverages

-3.0

-15.8

Tobacco Products

-4.7

-3.5

Textiles

-4.8

6.0

Wood and Wood Products

-10.7

-5.0

Rubber and Plastic Products

-1.9

5.0

Leather Products

-6.4

18.4

Furniture and Fixtures

-0.8

12.9

 

Note:

Sectors are ranked according to their contribution to the overall 2000-based February 2012 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 Index, January 2012 - February 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
February 2012 January 2012
(revised)

Footwear and Wearing Apparel

66.2

24.7

Food Manufacturing

2.6

a/

Non-Metallic Mineral Products

12.9

27.9

Chemical Products

4.2

0.1

Tobacco Products

17.1

4.9

Beverages

5.6

6.6

Furniture and Fixtures

31.7

20.4

Transport Equipment

3.4

-6.5

Wood and Wood Products

26.2

33.4

Rubber and Plastic Products

5.7

8.4

Publishing and Printing

4.4

14.4

Machinery Except Electrical

0.1

-2.2

Fabricated Metal Products

0.2

-9.3

 
Losers Year-on-Year Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-49.2

-22.1

Electrical Machinery

-6.9

-5.5

Miscellaneous Manufactures

-23.7

8.6

Petroleum Products

-3.9

16.0

Textiles

-18.0

0.3

Paper and Paper Products

-11.8

-11.1

Leather Products

-12.2

-7.5

 

TABLE 2-B. Volume of Net Sales Index, January 2012 - February 2012
(concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
February 2012 January 2012
(revised)
 

Food Manufacturing

7.2

-19.7

Chemical Products

9.5

-17.3

Transport Equipment

17.1

-0.7

Electrical Machinery

2.5

-1.5

Footwear and Wearing Apparel

14.8

37.5

Miscellaneous Manufactures

9.4

15.6

Fabricated Metal Products

7.8

2.3

Machinery Except Electrical

0.7

-1.1

Furniture and Fixtures

5.7

2.5

Publishing and Printing

2.7

-12.3

Paper and Paper Products

0.8

9.2

 
Losers Month-on-Month Growth (%)
February 2012 January 2012
(revised)
 

Basic Metals

-20.9

-28.6

Petroleum Products

-7.8

-0.4

Non-Metallic Mineral Products

-7.1

16.0

Beverages

-3.0

-16.3

Tobacco Products

-4.7

-2.6

Textiles

-4.8

3.9

Wood and Wood Products

-10.7

5.5

Rubber and Plastic Products

-1.9

-2.4

Leather Products

-6.4

24.2

Note:

a/ - Less than 0.1 percent increase

Sectors are ranked according to their contribution to the overall 2000-based February 2012 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

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