r - revised

•    Value of Production drops further in March 2013

Value of Production Index (VaPI) of the manufacturing industry dropped 7.9 percent in March 2013, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was largely attributed by 16 major sectors with two-digit decrement in production values exhibited by the following: tobacco products (-58.3%), miscellaneous manufactures (-43.6%), petroleum products (-37.6%), publishing and printing (-30.7%), textiles (-15.7%), paper and paper products (-12.8%), electrical machinery (-11.5%), beverages (-11.0%), rubber and plastic products (-10.3%) and fabricated metal products (-10.0%).  Refer to Tables 1-A and 1.

On the other hand, VaPI on a monthly comparison accelerated by 2.7 percent  in March 2013. The four major sectors that mainly influenced the growth in production values were furniture and fixtures (59.0%), wood and wood products (56.3%), chemical products (28.1%) and publishing and printing (10.7%). Refer to Tables 1-A and 1.

•    Volume of Production maintains a positive rate in March 2013

Volume of Production Index (VoPI) registered a slower annual growth of 1.2 percent in March 2013. This can be attributed mainly to the slowdown in the annual growth of food manufacturing. Moreover, six of the eight major sectors contributed to the positive growth in production output, namely: furniture and fixtures (47.3%), basic metals (37.7%), chemical products (37.0%), leather products (31.8%), wood and wood products (17.9%) and machinery except electrical (12.4%). Refer to Tables 1-B and 2.

VoPI on a month-on-month comparison, likewise, registered a growth of 2.5 percent in March 2013. Fourteen major sectors reported increases in production output led by furniture and fixtures and wood and wood products, with 60.0 percent and 56.8 percent growth, respectively. Refer to Tables 1-B and 2.

•    Value of Net Sales posted negative rate in March 2013

On year-on-year basis, Value of Net Sales Index (VaNSI) slipped 0.8 percent in March 2013 from a 2.3 percent gain in previous month. Among the 16 major sectors reporting decreases in VaNSI, eight major sectors significantly contributed to the decreases, namely: publishing and printing (-53.4%), wood and wood products (-23.5%), fabricated metal products (-20.3%), paper and paper products (-18.5%), tobacco products (-14.6%), food manufacturing (-12.2%), leather products (-11.0%) and electrical machinery  (-10.4%). Refer to Tables 2-A and 3.

On a month-on-month comparison, VaNSI, however, increased registering a 7.7 percent growth in March 2013. This is attributed to the double-digit increase reported by chemical products (27.9%), furniture and fixtures (14.8%), electrical machinery (11.7%) and machinery except electrical (10.6 %). Refer to Tables 2-A and 3.

•    Volume of Net Sales grows at a slower rate

Volume of Net Sales Index (VoNSI) accelerated at a slower rate as it posted a year-on-year growth of 9.0 percent in March 2013. This was accounted mainly by the slowdown in the annual sales volumes in the rubber and plastic products and machinery except electrical sectors. Moreover, seven major sectors reported increases in sales output, with two-digit growth in the following: furniture and fixtures (77.9%), chemical products (66.7%), textiles (33.6%) and basic metals (30.9%). Refer to Tables 2-B and 4.

Likewise, on a month-on-month change, VoNSI grew by 7.5 percent in March 2013. This is attributed to the two-digit growth in production volumes reported by five major sectors, namely: chemical products (26.5%), furniture and fixtures (15.5%), petroleum products (12.6%), electrical machinery (11.2%) and machinery except electrical (10.1%). Refer  to  Tables 2-B and 4.

•    Capacity Utilization in March 2013 is 82.9 percent

Average capacity utilization in March 2013 for total manufacturing was recorded at 82.9 percent. Fifty percent of the 20 major sectors registered capacity utilization rates of 80 percent or more.  These were:

• basic metals (87.9%)
• petroleum products (87.5%)
• electrical machinery (85.7%)
• non-metallic mineral products (85.7%)
• machinery except electrical (84.5%)
• food manufacturing (84.4%)
• wood and wood products (84.2%)
• chemical products (82.0%)
• rubber and plastic products (81.9%)
• paper and paper products (81.7%)

The proportion of establishments that operated at full capacity (90% to 100%) was 21.6 percent in March 2013.  About 53.4 percent of the establishments operated at 70% to 89% capacity while 25.0 percent of the establishments operated below 70% capacity. Refer to Table 6.

•    Response Rate

The response rates for the March 2013 MISSI and PPS are 64.5 percent and 83.8 percent, respectively.  Refer to Tables 7 and 8.

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 2013– March 2013

   (2000 =100)

  TABLE 1-A  Value of Production Index, February 2013 – March 2013

(2000 = 100) (concluded)

TABLE 1-B  Volume of Production Index, February 2013– March 2013

(2000 = 100)

TABLE 1-B  Volume of Production Index, February 2013 – March 2013

(2000 = 100) (concluded)

TABLE 2-A  Value of Net Sales Index, February 2013– March 2013

(2000 =100)

TABLE 2-A  Value of Net Sales Index, February 2013– March 2013

(2000 = 100) (concluded)

TABLE 2-B  Volume of Net Sales Index, February 2013– March 2013

(2000 = 100)

TABLE 2-B  Volume of Net Sales Index, February 2013 – March 2013

(2000 = 100) (concluded)