r - revised

• Value of Production Index sustains growth in March 2016

Value of Production Index (VaPI) for total manufacturing accelerated at a slower rate of 1.9 percent in March 2016, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Ten of the 20 major sectors contributed to the increase in VaPI, led by tobacco products with a growth of 82.6 percent. Other top grosser that posted two-digit increments were fabricated metal products (20.1%), wood and wood products (16.6%), paper and paper products (16.4%) and food manufacturing (16.3%). Refer to Tables 1-A and 1.

• Volume of Production grows at a slower pace

Volume of Production Index (VoPI) registered a slower annual growth of 7.8 percent compared with the two-digit growth of 14.9 percent during the same month last year. Of the 12 major sectors that reflected increases in VoPI, 10 sectors exhibited two-digit growth led by tobacco products with 82.6 percent growth. Other major sectors that recorded two-digit growth were non-metallic mineral products (28.5%), machinery except electrical (27.8%), wood and wood products (24.5%), fabricated metal products (18.7%), basic metals (17.3%), paper and paper products (15.7%), food manufacturing (15.3%), rubber and plastic products (14.5%), and electrical machinery (13.0%). Refer to Tables 1-B and 2.

• Value of Net Sales Index slides further

Value of Net Sales Index (VaNSI) continued to decline, reflecting an annual drop of   4.8 percent in March 2016. The contraction was due to the significant reduction in VaNSI observed in eight major sectors, offsetting the  growth reported by 12 major sectors. Major sectors that reported two-digit decreases were petroleum products (-25.0%), textiles (-22.7%), footwear and wearing apparel (-19.3%) and transport equipment (-10.7%). Refer to Tables 2-A and 3.

• Volume of Net Sales keeps positive rate

Volume of Net Sales Index (VoNSI) recorded a minimum increase of 0.7 percent in March 2016. This was brought about by the increases in VoNSI exhibited by 12 major sectors, with significant growth observed in the following: fabricated metal products (27.0%), machinery except electrical (26.0%), furniture and fixtures (21.4%), wood and wood products (19.2%), rubber and plastic products (15.1%), basic metals (13.8%) and electrical machinery (11.6%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in March 2016 is 83.4 percent with basic metals posting the highest among industries

Average capacity utilization rate in March 2016 for total manufacturing was recorded at 83.4 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These were:

• basic metals (88.6%)

• petroleum products (88.1%)

• non-metallic mineral products (86.5%)

• machinery except electrical (85.3%)

• food manufacturing (84.8%)

• electrical machinery (84.4%)

• chemical products (84.0%)

• paper and paper products (83.3%)

• rubber and plastic products (82.5%)

• wood and wood products (81.0%)

• printing (80.3%)

The proportion of establishments that operated at full capacity (90% to 100%) was 23.9 percent in March 2016. About 58.2 percent of the establishments operated at 70 percent to 89 percent capacity while 17.9 percent of the establishments operated below 70 percent capacity. Refer to Table 6 and B.

• Industry Coverage

The 2016 MISSI utilizes the 2009 PSIC to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were formed to comprise the industry coverage of the 2016 MISSI. These are presented in the table below.

• Response Rate        

The response rates for the March 2016 MISSI and PPS are 70.9 and 76.6 percent, respectively.  Refer to Tables 7 and 8.

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.

                                                                                          FOR THE NATIONAL STATISTICIAN:

TABLE 1-A Value of Production Index, February 2016 and March 2016

   (2000 =100)

TABLE 1-B  Volume of Production Index, February 2016 and March 2016

(2000 = 100)

TABLE 2-A  Value of Net Sales Index, February 2016 and March 2016

(2000 =100)

TABLE 2-B  Volume of Net Sales Index, February 2016 and March 2016

(2000 = 100)