r - revised

• Value of Production Index decreases in February 2019

The Value of Production Index (VaPI) went down at an annual rate of 5.5 percent in February 2019. In the same month of the previous year, VaPI went up at an annual rate of 15.5 percent.

The decline of VaPI in February 2019 can be attributed to the decreases in the indices of four major sectors led by food manufacturing (-21.9%). Refer to Tables1-A and 1.

• Volume of Production Index declines

Volume of Production Index (VoPI), likewise, posted a decrement of 8.5 percent in February 2019. During the same month of the previous year, an annual two-digit growth of VoPI at 15.2 percent was observed.

The decrement in February 2019 of VoPI was mainly influenced by the decreases in eight major sectors led by food manufacturing (-19.5%) and non-metallic mineral products (-12.0%). Refer to Tables 1-B and 2.

• Value of Net Sales Index continues to grow

Value of Net Sales Index (VaNSI) continued to gain as it posted a year-on-year growth of 5.5 percent in February 2019. As compared with the same month of the previous year, the annual growth in February 2018 was higher at 6.8 percent.

Sixteen of the 20 major sectors contributed to the growth in VaNSI in which two-digit annual growth rates were observed in six major sectors, namely, wood and wood products (51.6%), furniture and fixtures (31.5%), tobacco products (22.4%), printing (18.1%), beverages (12.5%) and transport equipment (10.7%). Refer toTables 2-A and 3.

• Volume of Net Sales Index also accelerates

The Volume of Net Sales Index (VoNSI) accelerated at a slower annual rate of 2.2 percent in February 2019 as compared with its rate in the same month of the previous year. In February 2018, annual growth rate was posted at 6.6 percent.

The increase in VoNSI in February 2019 was mainly influenced by the increments noted in 13 major sectors in which seven major sectors registered two-digit increases in VoNSI. These were as follows: wood and wood products (65.5%), tobacco products (16.3%), printing (14.4%), basic metals (12.1%), footwear and wearing apparel (11.9%), chemical products (11.6%) and beverages (10.9%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate is highest for petroleum products

Average capacity utilization rate in February 2019 for total manufacturing was recorded at 84.3 percent. Fifty-five percent or 11 of the 20 major industries had at least 80 percent capacity utilization rates. These were:

• petroleum products (89.6%)
• basic metals (88.7%)
• non-metallic mineral products (86.4%)
• machinery except electrical (86.1%)
• food manufacturing (85.2%)
• chemical products (85.0%)
• electrical machinery (84.9%)
• paper and paper products (83.7%)
• rubber and plastic products (83.2%)
• wood and wood products (82.0%)
• textiles(80.3%)

The proportion of establishments that operated at full capacity (90% to 100%) was more than one-fourth (26.0%) of the total number of establishments in February 2019. About 55.7 percent of the total establishments operated at 70 percent to 89 percent capacity while almost one-fifth (18.3%) operated below 70 percent capacity. Refer to Tables B and 6.

FOR THE NATIONAL STATISTICIAN:

JOSIE B. PEREZ
Assistant Secretary
Deputy National Statistician
Officer-in-Charge

TABLE 1-A Value of Production Index, January 2019 and February 2019

(2000 =100)