r-revised

• Value of Production continues its downtrend in March 2007
  

   

Value of Production Index (VaPI) for the manufacturing industry was still on its downtrend as it posted a decrease of 5.2 percent in March 2007, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Twelve of the 20 major sectors reported declines in production, with two-digit decreases observed in the following major sectors: textiles, tobacco, machinery excluding electrical, footwear and wearing apparel, electrical machinery, rubber products and miscellaneous manufactures. Refer to Tables 1-A and 1.

However, VaPI on a monthly basis posted a two-digit growth of 14.8 percent in March 2007. This was due to the month-on-month increases observed in 18 major sectors compared to only two major sectors that reported decreases in production value. Refer to Tables 1-A and 1.

• Volume of Production Index (VoPI) still down
  

   

Volume of Production Index (VoPI) also posted a year-on-year decrease of 7.6 percent in March 2007, slower than the decline of (revised) 13.9 percent in February 2007. Significant decreases in output were noted in the following major sectors: textiles, tobacco, footwear and wearing apparel, machinery excluding electrical, rubber products and electrical machinery. Refer to Tables 2 and 1-B.

On a month-on-month basis, VoPI reflected a double-digit increment of 14.5 percent in March 2007. This was due to the increases observed in 18 major sectors compared to only two major sectors that reported decreases in production volume. Refer to Tables 2 and 1-B.

• Value of Net Sales maintains increasing trend
  

   

Value of Net Sales continued to pick up at 5.1 percent in March 2007 due to significant year-on-year growths observed in the following sectors: basic metals, rubber products, transport equipment, publishing and printing and non-metallic mineral products. Refer to Tables 2-A and 3.

On a monthly basis, Value of Net Sales climbed by 14.7 percent in March 2007 compared to the previous month's (revised) decrease of 6.2 percent. This was brought about by the improved sales performance of 18 major sectors, led by miscellaneous manufactures and basic metals with 53.7 percent and 53.6 percent increases, respectively. Refer to Tables 2-A and 3.

• Volume of Net Sales sustains positive growth
  

   

Volume of Net Sales slightly grew by 1.7 percent in March 2007. Sectors that contributed to sales expansion were the following: basic metals, transport equipment and rubber products. Refer to Tables 2-B and 4.

Volume of Net Sales on a month-on-month basis grew by 13.6 percent in March 2007 from its previous month's (revised) 6.1 percent decline. This was brought about by the improved sales performance of 17 major sectors, led by miscellaneous manufactures with 53.5 percent. Refer to Tables 2-B and 4.

• Capacity Utilization
  

   

Average capacity utilization in March 2007 for total manufacturing was estimated at 80.0 percent. Sectors that registered more than 80% capacity utilization rates were the following: machinery excluding electrical, paper and paper products, electrical machinery, miscellaneous manufactures, leather products, basic metals, petroleum products, rubber products, food manufacturing, chemical products and non-metallic mineral products. Refer to Table 6. .

The proportion of establishments that operated at full capacity (90% to 100%) was 10.5 percent in March 2007. More than half or 57.4 percent of the establishments operated at 70% to 89% capacity and 32.1 percent of the establishments operated below 70% capacity.

Distribution of Key Manufacturing Establishments by Capacity Utilization
Total Manufacturing, March 2007
(In percent)

• Response Rate
  

   

The response rates for the March 2007 MISSI and PPS are 92.5 percent and 95.7 percent, respectively. Refer to Tables 7 and 8.

Response Rates for Total Manufacturing
(In percent)

                       r-revised

Starting 2006, weights for the Producer Price Index (PPI) are based from the results of the 2003 Annual Survey of Philippine Business and Industry (ASPBI) for manufacturing establishments with average total employment (ATE) of 20 and over.

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.

TABLE 1-A. VALUE OF PRODUCTION INDEX, February 2007 - March 2007
(1994 =100)

TABLE 1-A. VALUE OF PRODUCTION INDEX, February 2007 - March 2007
(concluded)
(1994=100)

Note: * - new sectors in the 1994-based series

a/ - Less than 0.1 percent increase

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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, February 2007 - March 2007
(1994 = 100)

TABLE 1-B. VOLUME OF PRODUCTION INDEX, February 2007 - March 2007
(concluded)
(1994=100)

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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, February 2007 - March 2007
(1994=100)

TABLE 2-A. VALUE OF NET SALES, February 2007 - March 2007(concluded)
(1994=100)

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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, February 2007 - March 2007
(1994=100)

TABLE 2-B. VOLUME OF NET SALES, February 2007 - March 2007 (concluded)
(1994=100)

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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