r - revised

• Value of Production Index remains at a negative rate in June 2015

Value of Production Index (VaPI) for total manufacturing posted an annual decrement of 7.3 percent compared with the two-digit growth of 10.1 percent in June 2014, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was attributed to decreases in VaPI observed in nine major sectors and influenced by the heavily weighted sectors of petroleum products, food manufacturing and electrical machinery. The seven major sectors that largely contributed to the reduction in VaPI were: basic metals (-36.7%), wood and wood products (-31.3%), petroleum products (-30.1%), furniture and fixtures (-27.1%), footwear and wearing apparel (-18.1%), food manufacturing (-12.7%), and electrical machinery (-10.1%). Refer to Tables 1-A and 1.

• Volume of Production also contracts in June 2015

Volume of Production Index (VoPI) slid down by 3.6 percent in June 2015 compared with the two-digit growth of 12.7 percent during the same month of last year. This was brought about by the decrements noted in 11 major sectors led by basic metals (-34.4%) and five other sectors with two-digit reduction in VoPI, namely: footwear and wearing apparel (-17.9%), petroleum products (-15.8%), furniture and fixtures (-14.5%), food manufacturing (-12.5%), and wood and wood products (-11.6%). Refer to Tables 1-B and 2.

• Value of Net Sales Index decelerates in June 2015

Value of Net Sales Index (VaNSI) on a year-on-year basis, eased by 10.6 percent in June 2015. The contraction in VaNSI were exhibited by nine out of 20 major sectors, with two-digit decreases noted in the following: printing (-43.4%), basic metals (-35.6%), petroleum products (-26.4%), footwear and wearing apparel (-14.1%), and food manufacturing (-13.9%) Refer to Tables 2-A and 3.

• Volume of Net Sales Index shrinks further in June 2015

Volume of Net Sales Index (VoNSI) reflected an annual drop of 7.1 percent in June 2015 compared with two-digit growth of 11.9 percent during the same month last year. This was attributed to the shortfall in VoNSI observed in nine major sectors, with two-digit decreases observed in the following: printing (-43.0%), basic metals (-33.3%), footwear and wearing apparel  (-13.9%), food manufacturing (-13.7%), and petroleum products (-11.3%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in June 2015 remains at 83.3 percent

Average capacity utilization rate in June 2015 for total manufacturing was recorded at 83.3 percent. Fifty percent or 10 of the 20 major industries operated at 80 percent and above capacity utilization rates. These were:

• basic metals (88.4%)
• petroleum products (88.3%)
• non-metallic mineral products (86.5%)
• machinery except electrical (84.8%)
• electrical machinery (84.4%)
• food manufacturing (84.3%)
• chemical products (83.4%)
• paper and paper products (83.1%)
• rubber and plastic products (82.2%)
• wood and wood products (80.6%)

The proportion of establishments that operated at full capacity (90% to 100%) was 24.4 percent in June 2015. About 56.7 percent of the establishments operated at 70 percent to 89 percent capacity while 18.9 percent of the establishments operated below 70 percent capacity. Refer to Table 6 and B.

• Industry Coverage

The 2015 MISSI utilizes the 2009 Philippine Standard Industrial Classification (PSIC) to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were formed to comprise the industry coverage of the 2015 MISSI. These are presented in the table below.

• Response Rate         

The response rates for the June 2015 MISSI and PPS are 73.5 percent and 80.6 percent, respectively.  Refer to Tables 7 and 8.

       r - revised

Data of non-responding samples were estimated using short-term geometric mean of the relative values of responding samples within the industry class. Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.

(Sgd) LISA GRACE S. BERSALES, Ph.D.
                    National Statistician

TABLE 1-A Value of Production Index, May 2015– June 2015

   (2000 =100)

Notes:                

TABLE 1-B  Volume of Production Index, May 2015– June 2015

(2000 = 100)

Notes:                

TABLE 2-A  Value of Net Sales Index, May 2015– June 2015

(2000 =100)

Notes:                

TABLE 2-B  Volume of Net Sales Index, May 2015– June 2015

(2000 = 100)

Notes: