• Value of Production Index expands with a two-digit growth in February 2017

Value of Production Index (VaPI) for manufacturing increased as it posted an annual two-digit growth of 13.6 percent in February 2017 compared with the 5.4 percent growth 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 brought about by the robust production performance in VaPI of 14 major sectors. Showing two-digit increments are petroleum products (95.0%), transport equipment (27.5%), basic metals (26.3%), wood and wood products (21.2%) non-metallic mineral products (20.0%), food manufacturing (19.3%), furniture and fixtures (16.6%), miscellaneous manufactures (16.2%), machinery except electrical (12.6%) and chemical products (12.0%). Refer to Tables 1-A   and 1.

• Volume of Production Index sustains its two-digit growth

Volume of Production Index (VoPI) maintained a two-digit growth, registering at 10.7 percent in February 2017. Among the 14 major sectors that reported increases in VoPI, nine major sectors reported two-digit growth, namely: petroleum products (47.1%), basic metals (28.2%), transport equipment (27.8%), non-metallic mineral products (26.3%), furniture and fixtures (21.9%), food manufacturing (20.6%), wood and wood products (19.5%), chemical products (14.5%) and leather products (12.5%). Refer to Tables 1-B and 2.

• Value of Net Sales Index shows significant increase

Value of Net Sales Index (VaNSI) climbed to 22.3 percent increase in February 2017. Significant expansion in VaNSI were observed in 14 major sectors led by basic metals with an increase of 87.1 percent. Other 13 sectors with two-digit annual growth rates are: textiles (73.0%), petroleum products (44.8%), transport equipment (37.0%), chemical products (35.7%), furniture and fixtures (28.7%), machinery except electrical (27.9%), wood and wood products (27.2%), miscellaneous manufactures (22.8%), leather products (22.1%), electrical machinery (14.6%), beverages (12.8%), rubber and plastic products (12.3%) and food manufacturing (10.3%) . Refer to Tables 2-A and 3.

• Volume of Net Sales Index also picks up

Volume of Net Sales Index (VoNSI) continued to increase, registering a two-digit growth of 19.2 percent in February 2017 compared with the previous year’s figure of 5.9 percent. The increase was attributed by the sales output performance of 14 major sectors, with significant increases noted in the following: basic metals (89.9%), textiles (81.2%), chemical products (38.8%), transport equipment (37.3%), furniture and fixtures (34.5%), leather products (29.4%), wood and wood products (25.4%), rubber and plastic products (20.5%), machinery except electrical (20.4%), electrical machinery (17.9%), food manufacturing (11.5%), miscellaneous manufactures (11.1%) and beverages (10.5%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in February 2017 is 83.7 percent with petroleum products posting the highest among industries

Average capacity utilization rate in February 2017 for total manufacturing was recorded at 83.7 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 (86.5%)
• machinery except electrical (85.4%)
• food manufacturing (85.2%)
• electrical machinery  (84.5%)
• chemical products (83.9%)
• paper and paper products (83.3%)
• rubber and plastic products (82.9%)
• wood and wood products (81.5%)
• printing (80.3%)

The proportion of establishments that operated at full capacity (90% to 100%) was recorded more than one-fifth of the total number of establishments (24.1%) in February 2017. About 56.6 percent of the establishments operated at 70 percent to 89 percent capacity while 19.3 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 February 2017 MISSI and PPS are 76.4 and 79.4 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, January 2017 and February 2017

   (2000 =100)

TABLE 1-B  Volume of Production Index, January 2017 and February 2017

(2000 = 100)

TABLE 2-A  Value of Net Sales Index, January 2017 and February 2017

(2000 =100)

TABLE 2-B  Volume of Net Sales Index, January 2017 and February 2017

(2000 = 100)