r - revised

•    Value of Production slides in February 2013

Value of Production Index (VaPI) of the manufacturing industry made a turnaround as it dropped 1.3 percent in February 2013 from a 5.8 percent growth posted the previous month, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). The decreases in production value were exhibited by 12 major sectors, with two-digit decreases noted in the following: tobacco products (-37.1%), publishing and printing (-34.0%), furniture and fixtures (-31.0%), petroleum products (-21.1%), transport equipment (-16.2%), textiles (-12.6%), electrical machinery (-11.0%) and rubber and plastic products (-10.4%).  Refer to Tables 1-A and 1.              

VaPI, on a month-on-month comparison, slightly decelerated as it posted a decrease of 1.3 percent in February 2013. Two major sectors that posted significant decrement in production were publishing and printing (-18.8%) and petroleum products (-14.7%). Refer to Tables 1-A and 1.

•    Volume of Production retains its positive growth

Volume of Production Index (VoPI) accelerated as it registered an annual increment of 8.7 percent in February 2013. Five major sectors recorded two-digit growths led by basic metals (52.9%). Other sectors that exhibited significant increases were as follows: leather products (37.2%), chemical products (21.2%), food manufacturing (20.8%) and machinery except electrical (11.2%). Refer to Tables 1-B and 2.

On the other hand, VoPI posted a month-on-month drop of 1.6 percent in February 2013. The two sectors with double-digit decrease that significantly contributed to the declines in production volume were publishing and printing (-18.8%) and petroleum products (-17.1%).  Refer to Tables 1-B and 2.

•    Value of Net Sales slips in February 2013

On year-on-year basis, Value of Net Sales Index (VaNSI) decelerated at a slower rate of 0.6 percent in February 2013. Significant reduction in production value was observed in the following major sectors: electrical machinery (-16.6%), paper and paper products (-13.1%), tobacco products (12.8%) and furniture and fixtures (12.6%). Refer to Tables 2-A and 3.

VaNSI, on a monthly basis, likewise went down 1.0 percent in February 2013. This was due to the double-digit decrease reflected by tobacco products (-21.8%) and electrical machinery (-10.2%). Refer to Tables 2-A and 3.

•    Volume of Net Sales grows at a slower rate

Volume of Net Sales Index (VoNSI) registered a slower annual growth of 9.5 percent in February 2013. This was accounted mainly by the slowdown in the annual sales volumes in the footwear and wearing apparel, food manufacturing, transport equipment and textiles sectors. However, 11 major sectors reported increases in sales output, with two-digit growth in the following: basic metals (56.7%), chemical products (28.6%), furniture and fixtures (22.8%) and rubber and plastic products (11.2%). Refer to Tables 2-B and 4.

On a month-on-month comparison, however, VoNSI continued to decline posting a decrement of 1.3 percent in February 2013. This was attributed to the double-digit decrease posted by tobacco products (-21.8%), paper and paper products         (-11.0%) and electrical machinery (-10.6%). Refer  to  Tables 2-B and 4.

•    Capacity Utilization in February 2013 is 82.8 percent

Average capacity utilization in February 2013 for total manufacturing was recorded at 82.8 percent. More than half or fifty-five percent of the 20 major sectors registered capacity utilization rates of 80 percent or more.  These were:

• basic metals (87.5%)
• machinery except electrical (85.4%)
• petroleum products (85.2%)
• food manufacturing (84.4%)
• non-metallic mineral products (84.2%)
• electrical machinery (84.2%)
• wood and wood products (82.6%)
• chemical products (82.1%)
• rubber and plastic products (82.0%)
• paper and paper products (81.6%)

The proportion of establishments that operated at full capacity (90% to 100%) was 18.7 percent in February 2013.  About 56.5 percent of the establishments operated at 70% to 89% capacity while 24.8 percent of the establishments operated below 70% capacity. Refer to Table 6.

•    Response Rate

The response rates for the February 2013 MISSI and PPS are 55.4 percent and 85.5 percent, respectively.  Refer to Tables 7 and 8.

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
               Administrator

TABLE 1-A  Value of Production Index, January 2013– February 2013

   (2000 =100)

  TABLE 1-A  Value of Production Index, January 2013 – February 2013

(2000 = 100) (concluded)

TABLE 1-B  Volume of Production Index, January 2013– February 2013

(2000 = 100)

TABLE 1-B  Volume of Production Index, January 2013 – February 2013

(2000 = 100) (concluded)

TABLE 2-A  Value of Net Sales Index, January 2013– February 2013

(2000 =100)

TABLE 2-A  Value of Net Sales Index, January 2013– February 2013

(2000 = 100) (concluded)

TABLE 2-B  Volume of Net Sales Index, January 2013– February 2013

(2000 = 100)

TABLE 2-B  Volume of Net Sales Index, January 2013 – February 2013

(2000 = 100) (concluded)