r-revised
                                           

·  Value of Production maintains its two-digit growth in March 2010

Value of Production Index (VaPI) for total manufacturing reflected a slower average annual growth of 21.5 percent in March 2010, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was accounted for by the three-digit growth in production value for petroleum products (144.2%) and two-digit growth in 10 major sectors. These sectors were basic metal, miscellaneous manufactures, transport equipment, leather products, wood and wood products, rubber and plastic products, machinery except electrical, electrical machinery, beverages and publishing and printing. Refer to Tables 1-A and 1.

On a month-on-month basis, VaPI likewise recorded an increase of 4.9 percent in March 2010. Major sectors that showed two-digit increases in production values were wood and wood products, beverages, footwear and wearing apparel, miscellaneous manufactures, furniture and fixtures and chemical products. Refer to Tables 1-A and 1.

·  Volume of Production registers a two-digit increase

On a year-on-year basis, Volume of Production Index (VoPI) continued to grow as it posted a two-digit increase of 23.1 percent in March 2010. Eighteen out of 20 major sectors exhibited increases in production output with petroleum products contributing the largest increase of 84.2 percent. This was followed by 11 other major sectors that posted two-digit increments, namely: miscellaneous manufactures, basic metals, transport equipment, furniture and fixtures, wood and wood products, electrical machinery, leather products, machinery except electrical, rubber and plastic products, fabricated metal products and beverages.. Refer to Tables 1-B and 2.

VoPI, on a monthly comparison, slightly grew by 5.0 percent in March 2010. This was mainly due to the expansion in production output observed in following major sectors: furniture and fixtures, wood and wood products, beverages, footwear and wearing apparel, miscellaneous manufactures, and petroleum products. Refer to Tables 1-B and 2.

·  Value of Net Sales grows at a slower rate in March 2010

Value of Net Sales Index (VaNSI), on a year-on-year basis, continued to increase at a slower rate of 20.1 percent in March 2010. Sales value of 14 major sectors expanded led by leather products with three-digit growth of 237.4 percent. This was followed by other major sectors that posted two-digit increases, namely: petroleum products, wood and wood products, electrical machinery, machinery except electrical, transport equipment, basic metals, miscellaneous manufactures and rubber and plastic products. Refer to Tables 2-A and 3.

On a month-on-month comparison, VaNSI modestly expanded by 8.5 percent in March 2010 from a 4.1 percent slide last month. Five of the 17 major sectors significantly contributed to the increase, as follows: petroleum products, wood and wood products, electrical machinery, beverages and furniture and fixtures. Refer to Tables 2-A and 3.

·  Volume of Net Sales likewise increases at a slower rate in March 2010

Volume of Net Sales Index (VoNSI) posted a slower annual increase of 21.7 percent in March 2010. This was attributed to the increases in sales output reported by 15 major sectors, led by leather products which exhibited three-digit growth of 220.1 percent. Other major sectors that significantly contributed to the growth were the following: electrical machinery, wood and wood products, furniture and fixtures, transport equipment, petroleum products, basic metals, miscellaneous manufactures, machinery except electrical, fabricated metal products and paper and paper products. Refer to Tables 2-B and 4.

VoNSI also went up by 8.6 percent in March 2010 compared to a month ago negative rate of 2.5 percent. Fifteen major sectors contributed to the increase in sales output with significant increases noted in the following: petroleum products, wood and wood products, electrical machinery, furniture and fixtures and beverages. Refer to Tables 2-B and 4.

·  Capacity Utilization

Average capacity utilization in March 2010 for total manufacturing stood at 82.6 percent. Eleven major sectors registered capacity utilization rates of 80% and more, namely: basic metals, food manufacturing, machinery except electrical, petroleum products, electrical machinery, non-metallic mineral products, chemical products, paper and paper products, miscellaneous manufactures, rubber and plastic products and leather products. Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 12.9 percent in March 2010. About 65.4 percent of the establishments operated at 70% to 89% capacity while 21.7 percent of the establishments operated below 70% capacity.

·  Response Rates

The response rates for the March 2010 MISSI and PPS are 81.2 percent and 93.8 percent, respectively. Refer to Tables 7 and 8

                                                                       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 with the amended 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.

Beginning the February 2008 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.

Also, beginning with the January 2009 data, weights of the major sectors and sub-sectors for the PPI and Capacity Utilization Rate have been computed utilizing the results of the 2006 Census of Philippine Business and Industry for Manufacturing Establishments for 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.

Notes:

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based March 2010 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 March 2010 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 March 2010 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 March 2010 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