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Release Date :
Reference Number :
2018-057

 

Table A   Year-on-Year Growth Rates for Production Index, Net Sales Index and Producer Price Index: February 2018 and February 2017

TOTAL MANUFACTURING

FEBRUARY

2018

FEBRUARY

2017

Production Index (2000=100)

 

 

       Value       (VaPI)

23.6

8.3

       Volume    (VoPI)

24.8

9.8

Net Sales Index (2000=100)

 

 

       Value        (VaNSI)

9.3

19.9

       Volume     (VoNSI)

10.3

21.5

 Producer Price Index (2000=100)

-1.0r

-1.2

r - revised

  • Value of Production Index exhibits a two-digit growth in February 2018

The Value of Production Index (VaPI) for manufacturing expressively grew by 23.6 percent in February 2018 from 8.3 percent growth in the same month of the previous year, based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Printing  contributed much to the increase with a 103.9 percent growth, followed by nine other major sectors that registered two-digit increments in VaPI, namely: electrical machinery (33.2%), food manufacturing (30.2%), petroleum products (28.2%), beverages (26.3%), miscellaneous manufactures (21.0%), basic metals (17.0%), paper and paper products (13.7%), non-metallic mineral products (13.6%) and machinery except electrical (10.5%). Refer to Tables1-A and 1.

  • Volume of Production Index likewise expands

The Volume of Production Index (VoPI) climbed to 24.8 percent in February 2018. This was mainly influenced by the increments noted in 16 major sectors, with 11 major sectors that registered two-digit increases in VoPI as follows: printing (108.1%), food manufacturing (32.6%), electrical machinery (30.3%), beverages (24.1%), petroleum products (23.4%), miscellaneous manufactures (20.5%), leather products (14.4%), fabricated metal products (12.6), chemical products (11.1%), basic metals (10.7%) and machinery except electrical (10.4%). Refer to Tables 1-B and 2.

 

 

  • Value of Net Sales Index accelerates at a slower rate

The Value of Net Sales Index (VaNSI) continued to increase, slowing down to 9.3 percent in February 2018 compared with 19.9 percent in February 2017. The growth was supported by the two-digit annual expansions in seven major sectors, namely: non-metallic mineral products (33.3%), chemical products (25.6%), tobacco products (22.0%), machinery except electrical (19.7%), beverages (14.7%), electrical machinery (12.9%) and transport equipment (11.1%). Refer toTables 2-A and 3.

  • Volume of Net Sales Index posts increments

The Volume of Net Sales Index (VoNSI) sustained a two-digit growth rate registering at 10.3 percent in February 2018. Significant increases in VoNSI were noted in nine of the 14 major sectors that registered growth, namely: chemical products (30.3%), non-metallic mineral products (28.8%), fabricated metal products (17.5%), machinery except electrical (16.8%), leather products (16.1%), beverages (12.0%) and transport equipment (11.8%). Refer to Tables 2-B and 4.

 

Average Capacity Utilization Rate in February 2018 is 84.2 percent with petroleum products posting the highest among industries

Average capacity utilization rate in February 2018 for total manufacturing was recorded at  84.2 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These are:

  • petroleum products (89.6%)
  • basic metals (89.0%)
  • non-metallic mineral products (86.8%)
  • machinery except electrical (85.9%)
  • food manufacturing (85.5%)
  • electrical machinery (85.0%)
  • chemical products (84.5%)
  • paper and paper products (83.5%)
  • rubber and plastic products (82.9%)
  • wood and wood products (81.3%)
  • printing (81.2%)

The proportion of establishments that operated at full capacity (90% to 100%) was recorded at more than one-fourth of the total number of establishments (27.2%) in February 2018. About 54.3 percent of the total establishments operated at 70 percent to 89 percent capacity while almost one-fifth of the total establishments (18.5%) operated below 70 percent capacity. Refer to Table B and 6.

 

Table B  Distribution of Key Manufacturing Establishments by Capacity Utilization for Total Manufacturing: February 2018

Capacity Utilization

Percent Share

Below 50%

3.7

50% - 59%

4.2

60% - 69%

10.6

70% - 79%

 21.2

80% - 89%

 33.1

 90% - 100%

 27.2

 

Response Rate

The response rates for the February 2018 MISSI and PPS were registered at 79.3 percent and 81.7 percent, respectively.  Refer to Tables 7 and 8.

 

Table C  Response Rates for Total Manufacturing

(In percent)

 

February 2018

January 2018
(Revised)

MISSI

79.3

88.2r

PPS

81.7r

88.8r

r - revised

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.

 

 

 

 

LISA GRACE S. BERSALES, Ph. D.

Undersecretary

National Statistician and Civil Registrar General

 

 


TABLE 1-A Value of Production Index, January 2018 and February 2018

   (2000 =100)

Industry Group

Year-on-Year Growth (%)

February 2018
January 2018
(revised)

Gainers

 

 

Electrical machinery

33.2

16.2

Food manufacturing

30.2

9.1

Petroleum products

28.2

32.6

Beverages

26.3

30.5

Printing

103.9

117.4

Machinery except electrical

10.5

30.8

Basic metals

17.0

36.2

Chemical products

6.5

3.1

Miscellaneous manufactures

21.0

17.7

Non-metallic mineral products

13.6

18.0

Paper and paper products

13.7

21.0

Transport equipment

5.3

-14.9

Footwear and wearing apparel

3.7

-7.1

Furniture and fixtures

3.8

-4.8

Losers

 

 

Tobacco products

-23.6

25.7

Rubber and plastic products

-12.1

-9.9

Textiles

-2.5

1.6

Wood and wood products

-5.2

-4.0

Fabricated metal products

-1.5

9.4

Leather products

-4.1

21.0

 
 
Notes:    Major Industries are ranked according to their contribution to the overall 2000-based February 2018 growth rate.
   Year-on-year growth rates are computed by dividing the current month index by the previous year’s same
   month index, less 1.
 

TABLE 1-B  Volume of Production Index, January 2018 and February 2018

(2000 = 100)

Industry Group

Year-on-Year Growth (%)

February 2018
January 2018
(revised)

Gainers

 

 

Food manufacturing

32.6

11.6

Electrical machinery

30.3

13.3

Petroleum products

23.4

16.3

Printing

108.1

120.5

Beverages

24.1

28.6

Machinery except electrical          

10.4

30.5

Chemical products

11.1

6.4

Basic metals

10.7

29.6

Miscellaneous manufactures

20.5

19.3

Non-metallic mineral products

9.7

14.6

Footwear and wearing apparel

6.5

-3.6

Paper and paper products

9.6

18.2

Fabricated metal products

12.6

35.1

Leather products

14.4

36.7

Losers

 

 

Tobacco products

-51.2

-18.8

Rubber and plastic products

-11.9

-9.9

Furniture and fixtures

-37.5

-42.3

Transport equipment

-2.4

-19.5

Textiles

-5.3

-1.4

Wood and wood products

-4.5

-3.3

 
 
Notes:    Major Industries are ranked according to their contribution to the overall 2000-based February 2018 growth rate.
    Year-on-year growth rates are computed by dividing the current month index by the previous year’s same 
       month index, less 1.
 
 
TABLE 2-A  Value of Net Sales Index, January 2018 and February 2018

(2000 =100)

 

Industry Group

Year-on-Year Growth (%)

February 2018
January 2018
(revised)

Gainers

 

 

Electrical machinery

12.9

19.1

Chemical products

25.6

26.2

Machinery except electrical

19.7

11.2

Petroleum products

9.8

10.8

Non-metallic mineral products

33.3

9.2

Food manufacturing

5.1

-3.0

Beverages

14.7

18.8

Transport equipment

11.1

5.3

Tobacco products

22.0

36.8

Footwear and wearing apparel

5.9

-8.0

Fabricated metal products

2.9

5.3

Wood and wood products

2.7

-13.2

Losers

 

 

Textiles

-20.1

-20.0

Basic metals

-7.5

20.8

Paper and paper products

-11.2

27.2

Miscellaneous manufactures

-6.5

2.3

Furniture and fixtures

-11.8

-9.2

Printing

-1.8

7.8

Rubber and plastic products

-1.4

5.2

Leather products

-2.5

35.9

 
 
Notes:     Major Industries are ranked according to their contribution to the overall 2000-based February 2018 growth rate.
   Year-on-year growth rates are computed by dividing the current month index by the same month index of the
    previous year, less 1.

 

TABLE 2-B  Volume of Net Sales Index, January 2018 and February 2018

(2000 = 100)

Industry Group

Year-on-Year Growth (%)

February 2018
January 2018
 (revised)

Gainers

 

 

Chemical products

30.3

29.6

Electrical machinery

10.6

16.2

Machinery except electrical

16.8

8.3

Food manufacturing

9.1

1.2

Non-metallic mineral products

28.8

6.1

Beverages

12.0

16.4

Transport equipment

11.8

8.2

Petroleum products

4.4

-3.9

Footwear and wearing apparel

10.0

-3.4

Fabricated metal products

17.5

30.1

Rubber and plastic products

3.9

10.6

Leather products

16.1

54.6

Wood and wood products

3.4

-12.6

Printing

0.2

9.3

Losers

 

 

Basic metals

-10.9

17.0

Tobacco products

-20.5

-10.1

Textiles

-20.1

-20.1

Paper and paper products

-12.9

26.3

Miscellaneous manufactures

-11.3

-1.3

Furniture and fixtures

-12.6

-9.7

 
 
Notes:    Major Industries are ranked according to their contribution to the overall 2000-based February 2018 growth rate.
  Year-on-year growth rates are computed by dividing the current month index by the same month index of the
  previous year, less 1.

 

 

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