Total Manufacturing | March 2006 | February 2006 |
Year-on-Year Growth | ||
Production Index | ||
Value(VaPI) | 9.9 | 5.2r |
Volume(VoPI) | -6.6 | -12.1r |
Net Sales Index | ||
Value | 7.2 | 10.6r |
Volume | -4.3 | 1.5r |
Producer's Price Index | 17.7 | 19.7r |
Average Capacity Utilization | 80.1 | 80.0 |
r-revised
- Value of Production Index grows further
Value of Production Index (VaPI) for the manufacturing industry on a year-on-year basis registered an increase of 9.9 percent in March 2006 compared with the year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Sectors which posted considerable increases were tobacco, fabricated metal products, miscellaneous manufactures, textiles, food manufacturing, petroleum products, paper and paper products, electrical machinery, basic metals, leather products and rubber products. Refer to Tables 1-A and 1.
On a monthly basis, VaPI also reflected an increment of 3.5 percent in March 2006. Sectors that mainly influenced the increase were miscellaneous manufactures, food manufacturing, chemical products, electrical machinery, publishing and printing, rubber products, textiles and tobacco. Refer to Tables 1-A and 1.
Volume of Production Index (VoPI) continues to fall
Volume of Production Index (VoPI) in March 2006 was still on its downtrend at 6.6 percent compared to its year-ago figure. Significant reductions in factory output were noted in the following major sectors: furniture and fixtures, machinery excluding electrical, electrical machinery, wood and wood products, transport equipment, footwear and wearing apparel, non-metallic mineral products and leather products. Refer to Tables 2 and 1-B.
On the other hand, VoPI on a monthly basis recovered with a 4.5 percent growth in March 2006 from a drop of (revised) 1.3 percent in the previous month. Major increases were reported by the following sectors: miscellaneous manufactures, machinery excluding electrical, chemical products, food manufacturing, electrical machinery, publishing and printing, textiles, rubber products and tobacco. Refer to Tables 2 and 1-B.
- Value of Net Sales sustains positive growth
On a year-on-year basis, Value of Net Sales registered a single-digit growth of 7.2 percent in March 2006 compared to the previous month's (revised) two-digit growth of 10.6 percent. Significant increases were observed in the following sectors: tobacco, miscellaneous manufactures, electrical machinery, basic metals, food manufacturing and chemical products. Refer to Tables 2-A and 3.
On a month-on-month basis, Value of Net Sales likewise stepped up by 8.5 percent in March 2006 from its previous month's (revised) slump of 1.8 percent. Sectors that exhibited significant expansion in sales were the following: miscellaneous manufactures, non-metallic mineral products, electrical machinery, beverages, footwear and wearing apparel, publishing and printing, tobacco, chemical products, wood and wood products andfabricated metal products. Refer to Tables 2-A and 3.
Volume of Net Sales drops
Volume of Net Sales on a yearly basis continued to decline by 4.3 percent compared to its year-ago figure. This was brought about by significant drop in sales volume registered by nine (9) major sectors, namely: machinery excluding electrical, wood and wood products, electrical machinery, transport equipment, leather products, non-metallic mineral products, furniture and fixtures, petroleum products and paper and paper products. Refer to Tables 2-B and 4.
Volume of Net Sales, on a monthly basis, improved by 8.4 percent in March 2006 compared to the previous month's (revised) decline of 1.1 percent. This was due to the increases in sales posted by seventeen (17) major sectors. Refer to Tables 2-B and 4.
- Producer's Price Index (PPI) still on its two-digit growth
Producer's Price Index (PPI) for manufacturing continued its year-on-year two-digit growth of 17.7 percent in March 2006. Eighteen (18) of the 20 major sectors registered price increases, led by electrical machinery with an increase of 93.4 percent. Other sectors that posted double-digit increases were leather products, machinery excluding electrical, petroleum products and non-metallic mineral products. Refer to Table 5.
PPI on monthly basis, however, slightly went down by 1.0 percent in March 2006. Price increases reported by the twelve (12) major sectors were offset by the price decreases reported by the eight (8) major sectors. Refer to Table 5.
- Capacity Utilization
Average capacity utilization in March 2006 for total manufacturing was estimated at 80.1 percent. Sectors that registered more than 80% capacity utilization rates were the following: machinery excluding electrical, electrical machinery, paper and paper products, petroleum products, miscellaneous manufactures, rubber products, leather products, basic metals, food manufacturing, chemical products and textiles. Refer to Table 6. .
The proportion of establishments that operated at full capacity (90%-100%) was 10.1 percent in March 2006. More than half or 57.9 percent of the establishments operated at 70%-89% capacity and 32.0 percent of the establishments operated below 70% capacity.
Distribution of Key Manufacturing Establishments by Capacity Utilization
Total Manufacturing, March 2006
(In percent)Capacity Utilization Percent Share Below 50 percent 5.0 50 percent - 59 percent 7.9 60 percent - 69 percent 19.1 70 percent - 79 percent 22.0 80 percent - 89 percent 35.9 90 percent - 100 percent 10.1 - Response Rate
The response rate for March 2006 is 85.5 percent, which corresponds to the retrieval of 435 sample establishments' reports. Refer to Table 7.
Response Rates for Total Manufacturing
(In percent)March 2006 February 2006
(revised)85.5 95.5 - Technical Notes
Starting 2006, weights for the Producer's 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.
(Sgd.) CARMELITA N. ERICTA
AdministratorTABLE 1-A. VALUE OF PRODUCTION INDEX, February 2006 - March 2006
(1994 =100)Gainers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Food Manufacturing
26.0
7.3
Petroleum Products
22.1
42.5
Electrical Machinery
14.3
-9.4
Tobacco
39.2
-16.5
Chemical Products
7.2
-8.0
Basic Metals
13.5
18.7
Textiles
26.7
17.2
Fabricated Metal Products*
32.4
21.3
Miscellaneous Manufactures
29.9
4.4
Paper and Paper Products
15.3
7.0
Beverages
2.5
10.8
Rubber Products
11.9
8.2
Leather Products*
13.4
78.5
Losers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Transport Equipment
-24.2
-6.8
Footwear and Wearing Apparel*
-17.7
-8.3
Machinery Excluding Electrical*
-33.0
-15.1
Non-Metallic Mineral Products
-10.4
-8.6
Furniture and Fixtures
-49.7
11.4
Wood and Wood Products
-27.0
-58.1
Publishing and Printing*
-1.6
-29.4
TABLE 1-A. VALUE OF PRODUCTION INDEX, February 2006 - March 2006
(concluded)
(1994=100)Gainers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Food Manufacturing
16.5
11.1
Chemical Products
16.5
-0.9
Electrical Machinery
15.5
-10.9
Basic Metals
8.1
11.4
Textiles
13.2
-0.2
Tobacco
10.3
-25.3
Transport Equipment
4.4
0.0
Beverages
4.5
-9.6
Miscellaneous Manufactures
18.8
9.3
Publishing and Printing*
14.3
-21.3
Fabricated Metal Products*
6.4
19.7
Machinery Excluding Electrical*
7.5
-4.2
Rubber Products
13.4
-11.3
Non-Metallic Mineral Products
1.4
7.6
Furniture and Fixtures
4.4
8.9
Losers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Petroleum Products
-26.1
-6.7
Footwear and Wearing Apparel*
-0.4
31.2
Leather Products*
-10.7
15.4
Paper and Paper Products
-0.3
13.5
Wood and Wood Products
-0.3
4.7
Note: * - new sectors in the 1994-based seriesSectors are ranked according to their contribution to the overall 1994-based March 2006 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 2006 - March 2006
(1994 = 100)Gainers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Food Manufacturing
23.9
4.1
Tobacco
31.2
-21.3
Petroleum Products
6.6
18.4
Basic Metals
12.4
16.0
Textiles
22.8
13.0
Chemical Products
5.7
-10.2
Fabricated Metal Products*
33.8
23.7
Miscellaneous Manufactures
27.2
2.0
Paper and Paper Products
8.9
1.9
Rubber Products
4.0
0.6
Losers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Electrical Machinery
-40.9
-52.0
Transport Equipment
-26.4
-8.4
Footwear and Wearing Apparel*
-22.2
-18.3
Non-Metallic Mineral Products
-21.0
-18.7
Machinery Excluding Electrical*
-45.3
-40.9
Beverages
-6.3
3.2
Wood and Wood Products
-32.4
-61.1
Furniture and Fixtures
-46.0
18.7
Publishing and Printing*
-3.6
-31.1
Leather Products*
-10.3
43.6
TABLE 1-B. VOLUME OF PRODUCTION INDEX, February 2006 - March 2006
(concluded)
(1994=100)Gainers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Food Manufacturing
16.3
16.4
Chemical Products
17.3
-2.5
Electrical Machinery
15.1
-9.7
Basic Metals
8.0
13.6
Textiles
13.5
-0.5
Tobacco
10.3
-25.3
Machinery Excluding Electrical*
18.9
-6.9
Miscellaneous Manufactures
19.5
10.3
Transport Equipments
3.6
-0.2
Publishing and Printing*
14.8
-21.3
Fabricated Metal Products*
6.4
18.3
Rubber Products
13.4
-11.3
Beverages
0.7
-9.6
Furniture and Fixtures
5.4
10.0
Non-Metallic Mineral Products
0.1
5.6
Losers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Petroleum Products
-25.8
-7.5
Paper and Paper Products
-1.1
14.1
Leather Products*
-12.2
15.4
Footwear and Wearing Apparel*
-0.4
29.5
Wood and Wood Products
0.1
5.2
Note: * - new sectors in the 1994-based seriesSectors are ranked according to their contribution to the overall 1994-based March 2006 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 2006 - March 2006
(1994=100)Gainers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Food Manufacturing
14.0
18.3
Electrical Machinery
20.7
6.0
Tobacco
48.3
122.1
Chemical Products
12.2
-3.9
Basic Metals
18.1
24.6
Beverages
7.2
5.6
Miscellaneous Manufactures
30.7
5.7
Fabricated Metal Products*
6.7
-4.1
Petroleum Products
0.1
27.9
Rubber Products
0.5
10.5
Leather Products*
2.1
71.9
Losers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Transport Equipment
-18.9
-7.2
Machinery Excluding Electrical*
-58.8
56.1
Wood and Wood Products
-51.9
-56.9
Non-Metallic Mineral Products
-4.9
-10.3
Footwear and Wearing Apparel*
-3.8
-3.9
Paper and Paper Products
-7.3
-10.5
Furniture and Fixtures
-21.7
-2.6
Textiles
-1.3
-3.2
Publishing and Printing
-1.5
-3.3
TABLE 2-A. VALUE OF NET SALES, February 2006 - March 2006 (concluded)
(1994=100)Gainers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Electrical Machinery
17.6
1.4
Chemical Products
14.9
-1.8
Non-Metallic Mineral Products
25.8
-11.8
Beverages
16.3
8.1
Food Manufacturing
4.0
-7.0
Footwear and Wearing Apparel*
15.9
15.2
Tobacco
15.0
-9.8
Miscellaneous Manufactures
37.1
28.7
Basic Metals
6.4
6.4
Fabricated Metal Products*
11.2
2.0
Publishing and Printing*
15.2
-13.5
Textiles
4.7
25.7
Wood and Wood Products
12.4
-11.9
Machinery Excluding Electrical*
8.7
-9.9
Transport Equipment
2.0
-8.0
Rubber Products
3.5
-9.4
Paper and Paper Products
0.5
-4.1
Losers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Petroleum Products
-8.2
-9.8
Leather Products*
-9.0
13.5
Furniture and Fixtures
-0.3
-0.3
Note: * - new sectors in the 1994-based seriesSectors are ranked according to their contribution to the overall 1994-based March 2006 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 2006 - March 2006
(1994=100)Gainers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Food Manufacturing
11.7
16.0
Chemical Products
10.7
-6.2
Tobacco
39.8
99.9
Basic Metals
17.0
21.8
Miscellaneous Manufactures
28.0
3.3
Fabricated Metal Products*
7.8
-2.2
Losers Year-on-Year Growth (percent) March 2006 February 2006
(revised)Electrical Machinery
-37.6
43.8
Petroleum Products
-12.6
6.3
Transport Equipment
-21.3
-8.7
Machinery Excluding Electrical*
-66.4
-69.5
Wood and Wood Products
-55.5
-59.9
Non-Metallic Mineral Products
-16.2
-20.2
Footwear and Wearing Apparel*
-9.0
-14.4
Paper and Paper Products
-12.4
-14.7
Textiles
-4.4
-6.7
Beverages
-2.0
-1.6
Furniture and Fixtures
-15.9
3.7
Rubber Products
-6.6
2.7
Publishing and Printing*
-3.5
-5.6
Leather Products*
-19.2
38.3
TABLE 2-B. VOLUME OF NET SALES, February 2006 - March 2006 (concluded)
(1994=100)Gainers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Electrical Machinery
17.2
2.8
Chemical Products
15.7
-3.4
Non-Metallic Mineral Products
24.1
-13.5
Food Manufacturing
3.8
-2.5
Footwear and Wearing Apparel*
15.9
13.7
Beverages
12.0
8.1
Tobacco
15.0
-9.8
Miscellaneous Manufactures
37.9
29.9
Basic Metals
6.3
8.6
Machinery Excluding Electrical*
20.2
-12.5
Fabricated Metal Products*
11.2
0.8
Publishing and Printing*
15.6
-13.5
Textiles
5.0
25.3
Wood and Wood Products
12.6
-11.5
Transport Equipment
1.2
-8.2
Rubber Products
3.5
-9.4
Furniture and Fixtures
0.6
0.6
Losers Month-on-Month Growth (percent) March 2006 February 2006
(revised)Petroleum Products
-7.8
-10.6
Leather Products*
-10.5
13.5
Paper and Paper Products
-0.2
-3.6
Note: * - new sectors in the 1994-based seriesSectors are ranked according to their contribution to the overall 1994-based March 2006 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