r-revised

·  Value of Production posts two-digit growth in July 2008

Value of Production Index (VaPI) for the manufacturing industry picked up at 13.9 percent in July 2008 compared with the year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Thirteen of the 20 major sectors posted increases in production, with two-digit increases registered by the following: basic metals, chemical products (excluding plastic products), petroleum products, food manufacturing, leather products, tobacco products, non-metallic mineral products, rubber and plastic products, footwear and wearing apparel, and beverages. Refer to Tables 1-A and 7.

On a month-on-month basis, VaPI likewise increased by 6.2 percent in July 2008. Twelve (12) sectors contributed to the increase led by basic metals, transport equipment, leather products, and petroleum products. Refer to Tables 1-A and 7.

·  Volume of Production accelerates in July 2008

Volume of Production Index (VoPI) grew by 8.1 percent in July 2008. Nine (9) major sectors accounted for the increases in production volume led by chemical products (excluding plastic products), non-metallic mineral products, and tobacco products. Refer to Tables 1-B and 8.

VoPI, on a month-on-month basis, increased by 4.6 percent in July 2008. This was mainly due to the two-digit expansion in factory output reported by the following major sectors: basic metals, furniture and fixtures, transport equipment and leather products. Refer to Tables 1-B and 8.

·  Value of Net Sales on increasing trend in July 2008

Value of Net Sales Index (VaNSI) on a year-on-year basis grew further as it posted a two-digit increase of 13.3 percent in July 2008. This was brought about by the expanded sales performance of 13 major sectors, with two-digit increases observed in the following: non-metallic mineral products, basic metals, petroleum products, leather products, publishing and printing, and paper and paper products. Refer to Tables 2-A and 9.

VaNSI, on a month-on-month comparison, rose by 2.2 percent in July 2008. The increases were exhibited by 12 major sectors, with two-digit increases noted in the following: non-metallic mineral products, publishing and printing, leather products, petroleum products, transport equipment, and tobacco products. Refer to Tables 2-A and 9.

·  Volume of Net Sales grows further

Volume of Net Sales Index (VoNSI) also accelerated as it posted a year-on-year increase of 8.5 percent in July 2008. Major sectors that significantly contributed to the increase were the following: non-metallic mineral products, basic metals, leather products, and publishing and printing. Refer to Tables 2-B and 10.

On the other hand, VoNSI, on a monthly basis, grew at a slower rate of 0.6 percent in July 2008. Major contributors to the growth were observed in the following major sectors: non-metallic mineral products, publishing and printing, leather products, furniture and fixtures, and transport equipment. Refer to Tables 2-B and 10.

·  Capacity Utilization

Average capacity utilization in July 2008 for total manufacturing was estimated at 81.6 percent. Twelve (12) major sectors that registered more than 80% capacity utilization rates were the following: basic metals, petroleum products, food manufacturing, footwear and wearing apparel, leather products, paper and paper products, chemical products (excluding plastic products), miscellaneous manufactures, electrical machinery, rubber and plastic products, publishing and printing, and non-metallic mineral products. Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 11.1 percent in July 2008. More than half or 59.4 percent of the establishments operated at 70% to 89% capacity while 29.5 percent of the establishments operated below 70% capacity.

·  Response Rates

The response rates for the July 2008 MISSI and PPS are 89.3 percent and 93.9 percent, respectively. Refer to Tables 12 and 13.

                                                     r-revised

·  Technical Notes

Only the 2000 based series will be continued beginning the July 2008 issue.

Starting with the February 2008 issue, a revised industry disaggregation of the MISSI indices and PPI will be adopted to conform to the 1994 PSIC groupings. Rubber and Plastic Products is a new major sector, consisting of two subsectors, namely: Rubber Products and Plastic Products. Rubber Products was previously a major sector while Plastic Products was one of the sub-sectors of Chemical Products.

With previously seven (7) subsectors, the major sector of Chemical Products has now six (6) subsectors, namely: Basic Chemicals and Industrial Gases, Fertilizers, Paints, Drugs and Medicines, Cosmetics and Toilet Preparations, and Miscellaneous Chemicals.

The major sector of Machinery except Electrical has been split into two subsectors, namely: Machinery and Equipment, n.e.c. and Office, Accounting and Computing Machinery.

The corresponding weights of the above major sectors and sub-sectors have been recomputed to allow for the revised computation of the indices.

Thus, beginning the February issue, the VaPI, VoPI, VaNSI, VoNSI and the revised PPI for Total Manufacturing for all months of 2008 are computed based on the revised industry disaggregation.

Starting 2008, weights for the PPI and Capacity Utilization Rates are based from the results of the 2005 Annual Survey of Philippine Business and Industry for manufacturing establishments with average total employment 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.
 

Notes:

* - new sector in the 2000-based series.

Sectors are ranked according to their contribution to the overall 2000-based July 2008 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.

Notes

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based July 2008 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.

Note:

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based July 2008 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.

Note:

*  -   new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based July 2008 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