•    Value of Production Index grows in July 2014

Value of Production Index (VaPI) for manufacturing picked up to 7.7 percent  in July 2014 compared with 7.3 percent during the same month last year. The growth can be attributed mainly to the three-digit increase in production value of printing (190.2%).  Moreover, the double-digit expansions manifested by seven major sectors also brought about the positive year-on-year growth of the VaPI. These were the following: leather products (51.7%), beverages (40.5%), fabricated metal products (38.4%), wood and wood products (27.9%), basic metals (20.4%), machinery except electrical (16.5%) and electrical machinery (14.0%). Refer to Tables 1-A and 1.

•    Volume of Production increased at a slower rate in July 2014

Volume of Production Index (VoPI), accelerated slowly by 9.6 percent in July 2014 compared with 14.5 percent in July 2013. Twelve (12) of the twenty major sectors contributed to the growth with significant increments posted by the following: printing (190.2%), fabricated metal products (50.3%), leather products (47.8%), beverages (39.3%), machinery except electrical (30.8%), basic metals (25.2%), wood and wood products (24.9%) and electrical machinery (13.8%). Refer to Tables 1-B and 2.

•    Value of Net Sales Index accelerates at a slower rate in July 2014

Value of Net Sales Index (VaNSI) gained at a slower rate of 4.3 percent in July 2014 compared with 19.3 percent in July 2013. Printing with an increment of 112.2 percent led the fourteen (14) major sectors that contributed to the growth in sales value. Other sectors with double-digit increments were: textiles (57.6%), fabricated metal products (45.4%), wood and wood products (27.5%), leather products (17.8%) and electrical machinery (12.6%).  Refer to Tables 2-A and 3 .

•    Volume of Net Sales Index keeps positive rate in July 2014

Volume of Net Sales Index (VoNSI) slowly grew by 6.1 percent in July 2014 compared with 27.3 percent in July 2013. Significant increases were noted in seven major sectors namely: printing (112.2%), fabricated metal products (58.0%), textiles (55.4%), wood and wood products (24.6%), machinery except electrical (20.0%), leather products (14.7%) and electrical machinery (12.4%). Refer to Tables 2-B and 4.

•    Capacity Utilization in July 2014 is 83.4 percent

Average capacity utilization in July 2014 for total manufacturing stood at 83.4 percent. More than 50 percent or eleven of the 20 major industries operated at 80 percent and above capacity utilization rates. These are:

• petroleum products (88.8%)
• basic metals (88.6%)
• non-metallic mineral products (86.1%)
• machinery except electrical (84.8%)
• food manufacturing (84.6 %)
• electrical machinery (84.4%)
• chemical products (83.8%)
• paper and paper products (83.0%)
• rubber and plastic products (82.5%)
• printing (81.8%)
• wood and wood products (81.6%)

The proportion of establishments that operated at full capacity (90% to 100%) was 23.3 percent in July 2014. About 57.6 percent of the establishments operated at 70% to 89% capacity while 19.1 percent of the establishments operated below 70% capacity. Refer to Table 6 and B.

•    Response Rate

The response rates for the July 2014 MISSI and PPS are 85.5 percent and 93.6 percent, respectively.  Refer to Tables 7 and 8.

Data of non-responding samples were estimated based on the short-term value relative within the same industry and other administrative reports of these establishments.  Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.