Monthly Integrated Survey of Selected Industries : March 2007

Reference Number: 

2007-036

Release Date: 

Thursday, May 24, 2007

 

 

Total Manufacturing

      March 2007      

      February 2007      

  Year-on-Year Growth

 

      Production Index

 

            Value(VaPI)

-5.2

-13.5r

            Volume(VoPI)

-7.6

-13.9r

      Net Sales Index

 

 

            Value

5.1

3.3r

            Volume

1.7

0.0r

      Producer Price Index

2.6

0.4r

  Average Capacity Utilization          

80.0

79.3r

 

              r-revised

·  Value of Production continues its downtrend in March 2007

Value of Production Index (VaPI) for the manufacturing industry was still on its downtrend as it posted a decrease of 5.2 percent in March 2007, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Twelve of the 20 major sectors reported declines in production, with two-digit decreases observed in the following major sectors: textiles, tobacco, machinery excluding electrical, footwear and wearing apparel, electrical machinery, rubber products and miscellaneous manufactures. Refer to Tables 1-A and 1.

However, VaPI on a monthly basis posted a two-digit growth of 14.8 percent in March 2007. This was due to the month-on-month increases observed in 18 major sectors compared to only two major sectors that reported decreases in production value. Refer to Tables 1-A and 1.

·  Volume of Production Index (VoPI) still down

Volume of Production Index (VoPI) also posted a year-on-year decrease of 7.6 percent in March 2007, slower than the decline of (revised) 13.9 percent in February 2007. Significant decreases in output were noted in the following major sectors: textiles, tobacco, footwear and wearing apparel, machinery excluding electrical, rubber products and electrical machinery. Refer to Tables 2 and 1-B.

On a month-on-month basis, VoPI reflected a double-digit increment of 14.5 percent in March 2007. This was due to the increases observed in 18 major sectors compared to only two major sectors that reported decreases in production volume. Refer to Tables 2 and 1-B.

·  Value of Net Sales maintains increasing trend

Value of Net Sales continued to pick up at 5.1 percent in March 2007 due to significant year-on-year growths observed in the following sectors: basic metals, rubber products, transport equipment, publishing and printing and non-metallic mineral products. Refer to Tables 2-A and 3.

On a monthly basis, Value of Net Sales climbed by 14.7 percent in March 2007 compared to the previous month's (revised) decrease of 6.2 percent. This was brought about by the improved sales performance of 18 major sectors, led by miscellaneous manufactures and basic metals with 53.7 percent and 53.6 percent increases, respectively. Refer to Tables 2-A and 3.

·  Volume of Net Sales sustains positive growth

Volume of Net Sales slightly grew by 1.7 percent in March 2007. Sectors that contributed to sales expansion were the following: basic metals, transport equipment and rubber products. Refer to Tables 2-B and 4.

Volume of Net Sales on a month-on-month basis grew by 13.6 percent in March 2007 from its previous month's (revised) 6.1 percent decline. This was brought about by the improved sales performance of 17 major sectors, led by miscellaneous manufactures with 53.5 percent. Refer to Tables 2-B and 4.

·  Capacity Utilization

Average capacity utilization in March 2007 for total manufacturing was estimated at 80.0 percent. Sectors that registered more than 80% capacity utilization rates were the following: machinery excluding electrical, paper and paper products, electrical machinery, miscellaneous manufactures, leather products, basic metals, petroleum products, rubber products, food manufacturing, chemical products and non-metallic mineral products. Refer to Table 6. .

The proportion of establishments that operated at full capacity (90% to 100%) was 10.5 percent in March 2007. More than half or 57.4 percent of the establishments operated at 70% to 89% capacity and 32.1 percent of the establishments operated below 70% capacity.

Distribution of Key Manufacturing Establishments by Capacity Utilization
Total Manufacturing, March 2007

(In percent)

            Capacity Utilization            

         Percent Share         

Below 50 percent

3.4

50 percent - 59 percent

10.3

60 percent - 69 percent

18.4

70 percent - 79 percent

20.5

80 percent - 89 percent

36.9

90 percent - 100 percent

10.5

 

·  Response Rate

The response rates for the March 2007 MISSI and PPS are 92.5 percent and 95.7 percent, respectively. Refer to Tables 7 and 8.

Response Rates for Total Manufacturing
(In percent)

 

          March 2007           

          February 2007           

MISSI

92.5

95.8r

PPS

95.7r

97.7r

 

                       r-revised

·  Technical Notes

Starting 2006, weights for the Producer 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
                                                                                                    Administrator


TABLE 1-A. VALUE OF PRODUCTION INDEX, February 2007 - March 2007
(1994 =100)

                            Gainers                            

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Non-Metallic Mineral Products

15.2

18.6

Wood and Wood Products

34.2

32.3

Publishing and Printing

23.1

21.4

Beverages

3.8

-13.0

Basic Metals

3.4

-3.0

Transport Equipment

2.8

4.5

Paper and Paper Products

1.1

-2.3

Leather Products

8.2

-4.9

 

Losers

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Textiles

-46.3

-40.8

Tobacco

-42.8

-30.0

Electrical Machinery

-11.3

-1.5

Footwear and Wearing Apparel

-26.1

-14.9

Chemical Products

-6.1

-2.8

Machinery Excluding Electrical

-35.5

-32.8

Petroleum Products

-3.2

-49.5

Food Manufacturing

-1.1

1.6

Miscellaneous Manufactures

-10.5

-6.3

Rubber Products

-10.7

-9.9

Fabricated Metal Products

-2.2

4.6

Furniture and Fixtures

-2.1

15.4

 

TABLE 1-A. VALUE OF PRODUCTION INDEX, February 2007 - March 2007
(concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

March 2007

February 2007
(revised)

 

Petroleum Products

41.5

-50.1

Food Manufacturing

13.8

1.2

Basic Metals

20.8

-5.4

Electrical Machinery

10.6

-11.3

Beverages

21.6

-10.3

Chemical Products

9.6

2.2

Non-Metallic Mineral Products

8.3

-4.4

Fabricated Metal Products

10.4

10.7

Transport Equipment

2.8

-0.5

Miscellaneous Manufactures

13.5

10.5

Tobacco

3.3

7.5

Rubber Products

13.4

-25.4

Wood and Wood Products

6.1

20.2

Paper and Paper Products

3.2

-3.8

Publishing and Printing

4.2

-1.9

Machinery Excluding Electrical

3.2

-4.6

Furniture and Fixtures

5.5

4.0

Leather Products

1.7

-2.7

 

Losers

      Month-on-Month Growth (percent)      

March 2007

February 2007
(revised)

 

Footwear and Wearing Apparel

-10.7

-6.5

Textiles

-1.1

7.8

 

Note: * - new sectors in the 1994-based series

a/ - Less than 0.1 percent increase

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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 2007 - March 2007
(1994 = 100)

                            Gainers                            

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Wood and Wood Products

39.8

38.0

Non-Metallic Mineral Products

9.9

13.0

Furniture and Fixtures

11.8

35.7

Transport Equipment

0.6

1.3

Beverages

0.4

-21.6

Publishing and Printing

1.7

0.4

Leather Products

6.0

-8.5

 

Losers

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Footwear and Wearing Apparel

-37.1

-27.6

Electrical Machinery

-13.4

-4.2

Textiles

-46.4

-39.8

Food Manufacturing

-7.0

-4.9

Tobacco

-42.4

-29.6

Chemical Products

-7.5

-3.3

Machinery Excluding Electrical

-35.7

-34.2

Petroleum Products

-2.1

-47.1

Basic Metals

-2.2

-4.3

Rubber Products

-16.6

-16.3

Miscellaneous Manufactures

-9.9

-5.1

Paper and Paper Products

-1.2

-4.1

Fabricated Metal Products

-1.0

5.8

 

TABLE 1-B. VOLUME OF PRODUCTION INDEX, February 2007 - March 2007
(concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

March 2007

February 2007
(revised)

 

Petroleum Products

37.2

-49.1

Food Manufacturing

13.4

1.2

Electrical Machinery

10.7

-11.1

Beverages

20.8

-9.1

Chemical Products

9.2

1.5

Basic Metals

15.7

-6.2

Non-Metallic Mineral Products

7.0

-4.1

Fabricated Metal Products

10.4

9.6

Miscellaneous Manufactures

13.4

11.7

Transport Equipment

2.5

-0.1

Tobacco

3.3

7.5

Rubber Products

13.4

-26.1

Machinery Excluding Electrical

6.0

-3.9

Wood and Wood Products

6.2

20.0

Publishing and Printing

4.2

-1.9

Paper and Paper Products

1.8

-7.0

Furniture and Fixtures

4.4

5.9

Leather Products

1.7

-2.8

Losers

          Month-on-Month Growth (percent)          

March 2007

February 2007
(revised)

 

Footwear and Wearing Apparel

-10.7

-6.9

Textiles

-2.6

7.7

 

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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 2007 - March 2007
(1994=100)

                            Gainers                            

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Basic Metals

30.7

4.1

Food Manufacturing

8.8

3.7

Chemical Products

8.9

13.1

Transport Equipment

16.0

11.5

Petroleum Products

5.9

-16.4

Non-Metallic Mineral Products

12.9

33.2

Publishing and Printing

13.8

26.9

Paper and Paper Products

7.4

5.4

Rubber Products

20.1

13.4

Fabricated Metal Products

1.9

39.7

Footwear and Wearing Apparel

0.8

34.5

Tobacco

1.0

-3.5

 

Losers

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Textiles

-23.4

-22.2

Electrical Machinery

-5.8

-2.9

Machinery Excluding Electrical

-29.2

-32.4

Furniture and Fixtures

-25.7

-2.9

Beverages

-3.0

-5.5

Wood and Wood Products

-10.9

23.3

Leather Products*

-71.3

-20.1

Miscellaneous Manufactures

-3.8

-13.4

 

TABLE 2-A. VALUE OF NET SALES, February 2007 - March 2007(concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

March 2007

February 2007
(revised)

 

Basic Metals

53.6

-14.7

Food Manufacturing

12.5

-13.7

Petroleum Products

16.3

-12.0

Electrical Machinery

12.7

-4.9

Chemical Products

10.8

5.6

Beverages

20.6

-1.6

Tobacco

27.9

1.6

Miscellaneous Manufactures

53.7

-9.5

Non-Metallic Mineral Products

16.8

8.6

Transport Equipment

6.0

3.1

Machinery Excluding Electrical

12.1

-8.3

Publishing and Printing

8.0

-4.5

Fabricated Metal Products

4.0

23.2

Rubber Products

10.4

-9.0

Paper and Paper Products

3.4

0.2

Furniture and Fixtures

6.7

6.1

Textiles

0.9

4.4

Leather Products*

11.5

0.4

 

Losers

      Month-on-Month Growth (percent)      

March 2007

February 2007
(revised)

 

Footwear and Wearing Apparel

-9.8

-40.0

Wood and Wood Products

-1.0

3.6

 

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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 2007 - March 2007
(1994=100)

                            Gainers                            

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Basic Metals

23.7

2.7

Petroleum Products

7.1

-12.4

Chemical Products

7.3

12.6

Transport Equipment

13.5

8.1

Food Manufacturing

2.2

-3.0

Non-Metallic Mineral Products

7.7

27.0

Paper and Paper Products

4.9

3.5

Rubber Products

12.1

5.3

Fabricated Metal Products

3.1

41.3

Tobacco

1.7

-2.9

 

Losers

          Year-on-Year Growth (percent)          

March 2007

February 2007
(revised)

 

Textiles

-23.5

-20.9

Electrical Machinery

-8.1

-5.6

Machinery Excluding Electrical

-29.4

-33.9

Beverages

-6.2

-14.8

Footwear and Wearing Apparel

-14.2

14.5

Leather Products*

-71.9

-23.1

Furniture and Fixtures

-15.2

14.2

Wood and Wood Products

-7.2

28.5

Publishing and Printing

-5.9

4.9

Miscellaneous Manufactures

-3.1

-12.3

 

TABLE 2-B. VOLUME OF NET SALES, February 2007 - March 2007 (concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

March 2007

February 2007
(revised)

 

Basic Metals

47.1

-15.4

Food Manufacturing

12.2

-13.7

Petroleum Products

12.8

-10.1

Electrical Machinery

11.3

-4.7

Chemical Products

10.3

4.8

Beverages

19.9

-0.3

Tobacco

27.9

1.6

Miscellaneous Manufactures

53.5

-8.5

Non-Metallic Mineral Products

15.4

8.9

Transport Equipment

5.7

3.4

Machinery Excluding Electrical

15.2

-7.5

Publishing and Printing

8.0

-4.5

Fabricated Metal Products

4.0

22.0

Rubber Products

10.4

-9.9

Paper and Paper Products

2.1

-3.0

Furniture and Fixtures

5.7

8.1

Leather Products*

11.5

-0.4

 

Losers

      Month-on-Month Growth (percent)      

March 2007

February 2007
(revised)

 

Footwear and Wearing Apparel

-9.8

-40.2

Textiles

-0.5

4.2

Wood and Wood Products

-0.9

3.4

 

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based March 2007 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

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