- Value of Production Index (VaPI) posted year-on-year increases both in 1985 and 1994-based series
Value of Production Index (VaPI) of the manufacturing industry in July 2001 registered year-on-year increases both in 1985 and 1994-based series at 11.4 percent and 2.3 percent, respectively, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).
YEAR-ON-YEAR GROWTH RATES OF VaPI
TOTAL MANUFACTURINGSeries July 2001 June 2001 1994-based 11.4 13.7 1985-based 2.3 17.1 In general, both 1985 and 1994-based series followed the same trend from July 2000 to July 2001. However, 1994-based indices showed flatter curve as compared with the 1985-based (see Fig. 1).
VaPI for July 2001 in the 1985-based, however, exhibited slowed down in growth compared to the increases in the previous months (see Fig. 2).
Sectors that posted double-digit year-on-year increases both in 1985 and 1994-based series were food manufacturing, basic metals, non-metallic mineral products, transport equipment and tobacco (see Annex 1-A).
- Volume of Production Index (VoPI) went down
The VoPI declined by 2.1 percent and 1.2 percent in the 1994-based and 1992-based series, respectively. Double-digit decreases for both series were observed in the following sectors: textile, paper and paper products and rubber products (see Annex 1-B).
YEAR-ON-YEAR GROWTH RATES OF VoPI
TOTAL MANUFACTURINGSeries July 2001 June 2001 1994-based -2.1 -2.1 1992-based -1.2 10.0 Like the VaPI, VoPI generally showed the same trend for 1992 and 1994-based series (see Fig. 3).
From July 2000 to July 2001, the highest year-on-year increases were observed in November 2000 at 11.9 percent and 40.7 percent in the 1994-based and 1992-based series, respectively (see Fig. 4).
- Value of net sales slows down
The value of net sales in July 2001 grew by a single-digit at 6.3 percent and 9.4 percent in the 1994-based and 1992-based series, respectively. Basic metals, chemicals, food manufacturing and tobacco registered double-digit increases for both series (see Annex 2-A).
YEAR-ON-YEAR GROWTH RATES OF VALUE OF NET SALES
TOTAL MANUFACTURINGSeries July 2001 June 2001 1994-based 6.3 15.4 1985-based 9.4 10.2 
- Volume of net sales declined in the 1994-based series
The volume of net sales in July 2001 went down by 6.6 in the 1994-based. On the other hand, volume of net sales in the 1992-based series increased by 4.5 percent (see Fig. 6). Non-metallic mineral products, textile, rubber products and furniture and fixtures registered double-digit decreases for both series (see Annex 2-B).
YEAR-ON-YEAR GROWTH RATES OF VOLUME OF NET SALES
TOTAL MANUFACTURINGSeries
July 2001
June 2001
1994-based
-6.6
-0.6
1992-based
4.5
1.3
- Producer's price index continued to post increases
Producer price index (PPI) for total manufacturing increased by 13.8 percent and 3.6 percent in the 1994 and 1992-based series, respectively. Double-digit year-on-year increases for both series were observed in the following sectors: tobacco, publishing and printing, glass and glass products, cement, and fabricated metal products.
YEAR-ON-YEAR GROWTH RATES OF PRODUCER�S PRICE INDEX
TOTAL MANUFACTURINGSeries July 2001 June 2001 1994-based 13.8 16.1 1992-based 3.6 6.4 
- Capacity Utilization
The proportions of responding establishments that operated at full capacity (90%-100%) in July 2001 were 20.1 percent and 19.5 percent in the 1994 and 1985-based series, respectively. About 43.1 percent of the responding establishments operated at 70%-89% capacity in the 1994-based series, lower by 0.3 percentage point in the 1985-based series at 43.4 percent. On the other hand, those operating below 70% capacity utilization accounted for 36.9 percent and 37.1 percent in the 1994-based and 1985-based series, respectively.
DISTRIBUTION OF KEY MANUFACTURING ESTABLISHMENTS
BY CAPACITY UTILIZATION
TOTAL MANUFACTURING, JULY 2001 (In percent)Capacity Utilization 1994-based 1985-based Below 50% 11.6 11.3 50% � 59% 10.1 10.0 60% - 69% 15.2 15.8 70% - 79% 20.3 20.7 80% - 89% 22.8 22.7 90% - 100% 20.1 19.5 Average capacity utilization rate for July 2001 for total manufacturing was estimated at 79.7 percent in the 1994-based, 0.2 percentage point lower than the 79.5 percent in the 1985-based. The sectors that posted more than 80% capacity utilization rates for both series were tobacco, furniture and fixtures, rubber products, petroleum products and electrical machinery (see Annex 3-A)
AVERAGE CAPACITY UTILIZATION FOR TOTAL MANUFACTURING (In percent)
Series July 2001 June 2001 1994-based 79.7 77.7 1985-based 79.5 78.7 - Response Rates (1994-based and 1985-based series)
In July 2001, the response rates in the 1994-based and 1985-based series were 84.4 percent and 85.4 percent, respectively.
RESPONSE RATES FOR TOTAL MANUFACTURING (In percent)
Series July 2001 June 2001 1994-based 84.4 94.4 1985-based 85.4 94.8 ANNEX 1-A
VALUE OF PRODUCTION INDEX, JULY 2001
Gainers Year-on-Year Growth (%) 1994-based 1985-based Food Manufacturing 27.9 23.8 Basic Metals 58.8 25.1 Chemical Products 13.4 9.9 Non-Metallic Mineral Products 33.8 23.3 Petroleum Products 6.9 6.8 Transport Equipment 13.4 21.1 Footwear & Wearing Apparel* 16.7 n.a. Machinery Excluding Electrical* 45.2 n.a. Tobacco 11.9 11.9 Publishing & Printing* 26.2 n.a. Beverage 3.5 3.5 Leather Products* 124.6 n.a. Miscellaneous Manufactures 12.9 8.7 Fabricated Metal Products* 0.8 n.a. Losers Year-on-Year Growth (%) 1994-based 1985-based Electrical Machinery -5.1 -11.6 Textile -16.8 -19.0 Paper & Paper Products -7.6 -7.3 Wood & Wood Products -10.3 -21.4 Rubber Products -12.4 -11.7 Furniture & Fixtures -0.3 - 3.0 Gainers Month-on-Month Growth (%) 1994-based 1985-based Transport Equipment 18.0 19.3 Food Manufacturing 4.8 9.9 Footwear & Wearing Apparel* 9.1 n.a. Chemicals 1.2 -7.4 Paper & Paper Products 5.4 5.7 Machinery Excluding Electrical* 5.4 n.a. Rubber Products 6.4 6.3 Furniture & Fixtures 1.5 2.2 Miscellaneous Manufacture 0.4 -2.9 Losers Month-on-Month Growth (%) 1994-based 1985-based Basic Metals -35.8 -23.9 Electrical Machinery -15.8 -21.2 Petroleum Products -13.3 -13.3 Beverage -19.8 -19.8 Non-Metallic Mineral Products -11.0 -2.3 Textile -7.2 -7.8 Tobacco -6.2 -6.2 Fabricated Metal Products* -6.4 n.a. Wood & Wood Products -5.8 -5.5 Publishing & Printing* -3.3 n.a. Leather Products* -3.5 n.a. Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based July 2001 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.ANNEX 1-B
VOLUME OF PRODUCTION INDEX, JULY 2001
Gainers Year-on-Year Growth (%) 1994-based 1992-based Food Manufacturing 28.4 28.9 Footwear & Wearing Apparel* 74.9 n.a. Basic Metals 24.9 15.1 Chemicals 5.9 1.8 Non-Metallic Mineral Products 13.4 1.5 Machinery Excluding Electrical* 31.4 n.a. Leather Products* 245.7 n.a. Transport Equipment 3.9 13.0 Miscellaneous Manufacture 7.6 -30.3 Losers Year-on-Year Growth (%) 1994-based 1992-based Textile -24.7 -18.2 Beverage -11.8 4.3 Petroleum Products -4.6 -1.5 Electrical Machinery -35.1 -9.5 Paper & Paper Products -15.3 -18.2 Fabricated Metals* -14.9 n.a. Tobacco -6.6 -2.6 Publishing & Printing* -10.0 n.a. Rubber Products -16.1 -10.2 Wood & Wood Products -8.3 -21.4 Furniture & Fixtures -6.6 -5.2 Gainers Month-on-Month Growth (%) 1994-based 1992-based Footwear & Wearing Apparel* 107.5 n.a. Transport Equipment 18.0 17.7 Food Manufacturing 4.2 9.8 Chemicals 2.1 -8.8 Paper & Paper Products 7.2 6.0 Leather Products* 54.1 n.a. Machinery Excluding Electrical* 5.4 n.a. Furniture & Fixtures 10.6 2.2 Rubber Products 6.4 6.3 Losers Month-on-Month Growth (%) 1994-based 1992-based Basic Metals -35.7 -21.5 Petroleum Products -14.4 -13.7 Beverage -19.8 -19.8 Non-Metallic Mineral Products -12.7 -2.8 Tobacco -7.9 -8.4 Textile -6.5 -8.0 Electrical Machinery -16.9 -22.2 Fabricated Metals* -6.4 n.a. Wood & Wood Products -4.5 -5.5 Publishing & Printing* -3.3 n.a. Miscellaneous Manufactures -0.1 -3.2 Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based July 2001 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.ANNEX 2-A
VALUE OF NET SALES, JULY 2001
Gainers Year-on-Year Growth (%) 1994-based 1985-based Basic Metals 81.9 84.3 Chemicals 21.7 23.8 Food Manufacturing 10.0 14.2 Petroleum Products 9.6 9.6 Machinery Excluding Electrical* 79.9 n.a. Fabricated Metal Products* 36.8 n.a. Tobacco 21.1 41.5 Leather Products* 231.8 n.a. Beverage 2.9 2.0 Miscellaneous Manufactures 6.8 17.0 Losers Year-on-Year Growth (%) 1994-based 1985-based Footwear & Wearing Apparel* -18.0 n.a. Electrical Machinery -6.2 -8.3 Non-Metallic Mineral Products -19.2 -15.0 Textile -15.8 -15.1 Publishing & Printing* -34.1 n.a. Transport Equipment -3.1 5.0 Rubber Products -18.3 -19.3 Furniture & Fixtures -16.8 -9.2 Wood & Wood Products -0.8 -28.3 Paper & Paper Products -0.3 -2.0 Gainers Month-on-Month Growth (%) 1994-based 1985-based Basic Metals 53.0 53.4 Transport Equipment 7.2 14.1 Chemicals 3.0 5.5 Machinery Excluding Electrical* 15.8 n.a. Electrical Machinery 1.6 9.2 Paper & Paper Products 3.6 1.5 Leather Products* 39.1 n.a. Wood & Wood Products 3.4 -25.4 Rubber Products 4.1 -6.3 Miscellaneous Manufactures 1.0 1.3 Petroleum Products -13.9 -13.9 Beverage -28.9 -29.5 Food Manufacturing -6.6 -5.4 Tobacco -14.7 10.9 Non-Metallic Mineral Products -12.2 -11.8 Footwear & Wearing Apparel* -7.2 n.a. Textile -7.9 -7.5 Fabricated Metal Products* -10.2 n.a. Furniture & Fixtures -4.5 -0.9 Publishing & Printing* -0.9 n.a. Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based July 2001 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.ANNEX 2-B
VOLUME OF NET SALES, JULY 2001
Gainers Year-on-Year Growth (%) 1994-based 1992-based Basic Metals 43.0 85.3 Food Manufacturing 10.4 18.9 Chemicals 13.7 14.6 Footwear & Wearing Apparel* 22.8 n.a. Machinery Excluding Electrical* 62.8 n.a. Leather Products* 410.6 n.a. Fabricated Metal Products* 15.5 n.a. Tobacco 1.1 23.1 Miscellaneous Manufactures 1.6 -25.0 Wood & Wood Products 1.4 -28.3 Losers Year-on-Year Growth (%) 1994-based 1992-based Electrical Machinery -35.8 -6.1 Non-Metallic Mineral Products -31.5 -27.8 Textile -23.9 -14.3 Beverage -12.3 2.8 Publishing & Printing* -53.0 n.a. Transport Equipment -11.3 -2.0 Petroleum Products -2.2 1.0 Paper & Paper Products -8.6 -13.5 Rubber Products -21.7 -17.9 Furniture & Fixtures -22.1 -11.2 Gainers Month-on-Month Growth (%) 1994-based 1992-based Footwear & Wearing Apparel* 76.5 n.a. Basic Metals 53.4 54.6 Chemicals 3.8 3.9 Transport Equipment 7.3 12.6 Machinery Excluding Electrical* 15.8 n.a. Leather Products* 122.0 n.a. Paper & Paper Products 5.4 1.8 Wood & Wood Products 4.8 -25.5 Rubber Products 4.1 -6.3 Electrical Machinery 0.2 7.8 Furniture & Fixtures 4.1 -0.9 Miscellaneous Manufactures 0.5 0.9 Petroleum Products -14.9 -14.2 Beverage -28.9 -29.5 Food Manufacturing -7.1 -5.5 Tobacco -16.2 8.3 Non-Metallic Mineral Products -13.9 -20.7 Textile -7.2 -7.7 Fabricated Metal Products* -10.2 n.a. Publishing & Printing* -0.9 n.a. Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based July 2001 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.ANNEX 3-A
AVERAGE CAPACITY UTILIZATION BY MAJOR SECTOR, JULY 2001
SECTOR 1994-based 1985-based MANUFACTURING 79.7 79.5 FOOD MANUFACTURING 79.0 79.2 BEVERAGE 79.0 79.0 TOBACCO 86.7 86.6 TEXTILE 77.1 77.3 FOOTWEAR & WEARING APPAREL* 73.4 n.a WOOD & WOOD PRODUCTS 77.4 79.6 FURNITURE & FIXTURES 84.9 85.3 PAPER & PAPER PRODUCTS 77.8 75.6 PUBLISHING & PRINTING* 81.7 n.a. LEATHER PRODUCTS* 44.5 n.a. CHEMICALS 79.4 83.5 RUBBER PRODUCTS 83.2 82.8 PETROLEUM PRODUCTS 84.8 84.7 NON-METALLIC MINERAL PRODUCTS 76.5 79.4 BASIC METALS 69.0 65.5 FABRICATED METAL PRODUCTS* 82.2 n.a. MACHINERY EXCLUDING ELECTRICAL* 92.7 n.a. TRANSPORT EQUIPMENT 72.2 74.0 ELECTRICAL MACHINERY 81.2 83.5 MISC. MANUFACTURES 76.6 79.9 Note: * - new sectors in the 1994-based series
Source: National Statistics Office
Manila, Philippines
