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Release Date :
Reference Number :
2006-048

 


Total Manufacturing       May 2006             April 2006      
  Year-on-Year Growth  
      Production Index  
            Value(VaPI) 8.5 1.9r
            Volume(VoPI) -5.4 -13.2r
      Net Sales Index    
            Value 7.7 -2.2r
            Volume -3.7 -13.4r
      Producer's Price Index 14.7 14.5r
  Average Capacity Utilization           80.3 80.1

              r-revised

 

  • Value of Production picks up

    Value of Production Index (VaPI) for the manufacturing industry on a yearly basis went up by 8.5 percent in May 2006 compared with the year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was brought about by the three-digit growth in production of leather products with 127.6 percent, followed by six (6) other major sectors which posted two-digit increases, as follows: basic metals, fabricated metal products, miscellaneous manufactures, petroleum products, textiles and electrical machinery. Refer to Tables 1-A and 1.

    On a month-on-month basis, VaPI also picked up by 9.0 percent in May 2006. Significant expansion in production were observed in seventeen (17) major sectors, with two-digit increases noted in the following: tobacco, leather products, transport equipment, basic metals, miscellaneous manufactures, fabricated metal products, publishing and printing, beverages and food manufacturing. Refer to Tables 1-A and 1.

  • Volume of Production Index (VoPI) drops slightly

    On a year-on-year basis, Volume of Production Index (VoPI) continued to decline, but at a slower rate of 5.4 percent in May 2006. This was an improvement from the two-digit drop (revised) of 13.2 percent in April 2006. Sectors that mainly influenced the decrease were the following: wood and wood products, machinery excluding electrical, tobacco, electrical machinery, rubber products, footwear and wearing apparel, transport equipment and non-metallic mineral products. Refer to Tables 2 and 1-B.

    However, VoPI on monthly basis accelerated by 8.9 percent in May 2006 from its previous month�s (revised) decrease of 0.7 percent. Seventeen (17) of the 20 major sectors posted increases in factory output, with two-digit growth observed in the following: tobacco, leather products, transport equipment, fabricated metal products, basic metals, miscellaneous manufactures, publishing and printing, beverages and food manufacturing. Refer to Tables 2 and 1-B.

     

  • Value of Net Sales also recovers

    Value of Net Sales reflected a year-on-year increment of 7.7 percent in May 2006 compared to the previous month�s (revised) decrease of 2.2 percent. Leather products led other major sectors with a significant growth of 122.6 percent, followed by four (4) major sectors which posted double-digit increases, as follows: basic metals, food manufacturing, petroleum products and electrical machinery. Refer to Tables 2-A and 3.

    Likewise, Value of Net Sales on a monthly basis recovered with 8.8 percent growth in May 2006 from a drop (revised) of 4.8 percent in the previous month. This was due to the two-digit month-on-month increases observed in nine (9) major sectors compared to only two (2) major sectors that reported decreases in sales value.Refer to Tables 2-A and 3.

  • Volume of Net Sales is still down

    On a yearly basis, Volume of Net Sales slumped by 3.7 percent compared to the previous month�s (revised) two-digit decline of 13.4 percent. Major sectors that contributed to the decrease were from the following: machinery excluding electrical, wood and wood products, electrical machinery, non-metallic mineral products, transport equipment, rubber products, publishing and printing, beverages and paper and paper products. Refer to Tables 2-B and 4.

    On a month-on-month basis, Volume of Net Sales improved with an increase of 8.4 percent in May 2006 compared to the previous month�s (revised) decrease of 5.9 percent. This was due to the two-digit month-on-month increases observed in nine (9) major sectors compared to only three (3) major sectors that reported decreases in sales volume. Refer to Tables 2-B and 4.

  • Producer Price Index (PPI) continues to increase

    Producer Price Index (PPI) of manufacturing sector maintained its two-digit growth at 14.7 percent in May 2006. Price increments were reported by eighteen (18) major sectors, with two-digit increases in the following: electrical machinery, machinery excluding electrical, leather products, petroleum products, non-metallic mineral products, rubber products, footwear and wearing apparel and fabricated metal products. Refer to Table 5.

    PPI, on monthly basis, posted a slower rate of 0.1 percent increase in May 2006. Price increments were observed in fourteen (14) major sectors. Refer to Table 5.

  • Capacity Utilization

    Average capacity utilization in May 2006 for total manufacturing was estimated at 80.3 percent. Sectors that registered more than 80% capacity utilization rates were the following: machinery excluding electrical, petroleum products, electrical machinery, leather products, paper and paper products, miscellaneous manufactures, basic metals, rubber products, food manufacturing, chemical products and textiles. Refer to Table 6..

    The proportion of establishments that operated at full capacity (90% to 100%) was 8.9 percent in May 2006. More than half or 60.0 percent of the establishments operated at 70% to 89% capacity and 31.1 percent of the establishments operated below 70% capacity.

    Distribution of Key Manufacturing Establishments by Capacity Utilization
    Total Manufacturing, May 2006

    (In percent)

                Capacity Utilization                      Percent Share         
    Below 50 percent 3.3
    50 percent - 59 percent 9.1
    60 percent - 69 percent 18.7
    70 percent - 79 percent 22.0
    80 percent - 89 percent 39.0
    90 percent - 100 percent 8.9

  • Response Rate

    The response rates for the May 2006 MISSI and PPS are 89.8 percent and 90.6 percent, respectively. Refer to Tables 7 and 8.

    Response Rates for Total Manufacturing
    (In percent)

                May 2006                      April 2006           
    (revised)
    MISSI 89.8 95.5
    PPS 90.6 95.6

  • 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, April 2006 - May 2006
    (1994 =100)

                                Gainers                                       Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Petroleum Products

    25.1

    40.8

    Basic Metals

    36.4

    37.1

    Electrical Machinery

    14.4

    -4.9

    Food Manufacturing

    7.7

    -7.0

    Textiles

    19.0

    21.8

    Fabricated Metal Products*

    29.0

    2.2

    Miscellaneous Manufactures

    28.2

    -2.4

    Beverages

    4.6

    -17.5

    Leather Products*

    127.6

    95.5

    Paper and Paper Products

    2.8

    3.4

     
    Losers           Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Transport Equipment

    -17.5

    -38.8

    Tobacco

    -32.8

    -32.7

    Footwear and Wearing Apparel*

    -11.7

    5.5

    Chemical Products

    -4.1

    -11.0

    Wood and Wood Products

    -34.9

    -31.7

    Machinery Excluding Electrical*

    -16.5

    25.3

    Non-Metallic Mineral Products

    -5.2

    -10.8

    Publishing and Printing*

    -10.7

    -14.8

    Rubber Products

    -11.5

    -9.3

    Furniture and Fixtures

    -4.3

    8.7

    TABLE 1-A. VALUE OF PRODUCTION INDEX, April 2006 - May 2006
    (concluded)
    (1994=100)

                                Gainers                                   Month-on-Month Growth (percent)      
    May 2006 April 2006
    (revised)
     

    Transport Equipment

    37.0

    -25.1

    Food Manufacturing

    11.1

    -9.4

    Basic Metals

    26.0

    7.3

    Tobacco

    50.8

    -25.9

    Beverages

    16.0

    -7.4

    Electrical Machinery

    6.2

    -12.2

    Petroleum Products

    4.7

    45.1

    Fabricated Metal Products*

    20.3

    -17.6

    Chemical Products

    2.5

    -5.3

    Non-Metallic Mineral Products

    8.1

    -2.6

    Miscellaneous Manufactures

    25.0

    -18.4

    Publishing and Printing*

    18.4

    -10.3

    Textiles

    4.7

    -3.0

    Paper and Paper Products

    5.9

    -7.5

    Wood and Wood Products

    9.3

    -6.5

    Leather Products*

    41.8

    16.3

    Machinery Excluding Electrical*

    1.6

    -3.4

     
    Losers       Month-on-Month Growth (percent)      
    May 2006 April 2006
    (revised)
     

    Footwear and Wearing Apparel*

    -4.8

    -3.3

    Furniture and Fixtures

    -12.1

    -12.9

    Rubber Products

    -1.2

    -19.2


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

    Sectors are ranked according to their contribution to the overall 1994-based May 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, April 2006 - May 2006
    (1994 = 100)

                                Gainers                                       Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Basic Metals

    33.8

    36.1

    Food Manufacturing

    5.4

    -9.8

    Petroleum Products

    4.5

    23.4

    Fabricated Metal Products*

    29.0

    3.3

    Textiles

    15.4

    19.1

    Miscellaneous Manufactures

    26.1

    -3.4

    Leather Products*

    80.1

    54.6

    Furniture and Fixtures

    4.5

    20.1

    Paper and Paper Products

    1.4

    0.6

     
    Losers           Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Electrical Machinery

    -35.4

    -53.9

    Transport Equipment

    -20.8

    -40.3

    Tobacco

    -36.6

    -36.5

    Footwear and Wearing Apparel*

    -21.9

    -14.7

    Non-Metallic Mineral Products

    -18.1

    -22.8

    Chemical Products

    -4.5

    -10.1

    Machinery Excluding Electrical*

    -38.5

    -5.8

    Wood and Wood Products

    -39.0

    -37.0

    Rubber Products

    -23.3

    -21.3

    Publishing and Printing*

    -8.4

    -12.7

    Beverages

    -0.1

    -21.1

    TABLE 1-B. VOLUME OF PRODUCTION INDEX, April 2006 - May 2006
    (concluded)
    (1994=100)

                                Gainers                                   Month-on-Month Growth (percent)      
    May 2006 April 2006
    (revised)
     

    Food Manufacturing

    11.9

    -10.0

    Transport Equipments

    37.0

    -25.1

    Tobacco

    50.8

    -25.9

    Basic Metals

    25.1

    5.4

    Beverages

    16.0

    -7.6

    Electrical Machinery

    6.7

    -12.9

    Fabricated Metal Products*

    35.3

    -17.6

    Non-Metallic Mineral Products

    7.9

    -4.0

    Miscellaneous Manufactures

    24.2

    -20.1

    Publishing and Printing*

    18.4

    -10.3

    Chemical Products

    1.8

    -5.5

    Paper and Paper Products

    8.3

    -7.1

    Textiles

    3.9

    -2.8

    Wood and Wood Products

    9.6

    -6.7

    Leather Products*

    41.8

    16.3

    Machinery Excluding Electrical*

    1.9

    -5.4

    Footwear and Wearing Apparel*

    0.4

    -12.0

     
    Losers           Month-on-Month Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Petroleum Products

    -0.8

    42.1

    Furniture and Fixtures

    -12.4

    -12.8

    Rubber Products

    -1.3

    -24.2


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

    Sectors are ranked according to their contribution to the overall 1994-based May 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, April 2006 - May 2006
    (1994=100)

                                Gainers                                       Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Basic Metals

    56.7

    26.0

    Food Manufacturing

    16.5

    2.0

    Petroleum Products

    15.5

    8.6

    Electrical Machinery

    12.0

    7.3

    Chemical Products

    4.3

    -3.9

    Footwear and Wearing Apparel*

    9.3

    0.6

    Tobacco

    9.6

    2.6

    Leather Products*

    122.6

    94.7

    Fabricated Metal Products*

    7.1

    -6.1

    Miscellaneous Manufactures

    4.0

    -4.0

     
    Losers           Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Transport Equipment

    -21.1

    -37.6

    Machinery Excluding Electrical*

    -60.6

    -57.2

    Beverages

    -9.2

    -6.4

    Non-Metallic Mineral Products

    -13.8

    -21.8

    Wood and Wood Products

    -33.0

    -19.0

    Paper and Paper Products

    -11.6

    -16.9

    Publishing and Printing*

    -18.2

    -27.6

    Textiles

    -5.5

    -15.6

    Furniture and Fixtures

    -17.2

    -13.5

    Rubber Products

    -9.2

    -20.8

    TABLE 2-A. VALUE OF NET SALES, April 2006 - May 2006 (concluded)
    (1994=100)

                                Gainers                                   Month-on-Month Growth (percent)      
    May 2006 April 2006
    (revised)
     

    Basic Metals

    37.9

    0.1

    Transport Equipment

    26.8

    -21.2

    Food Manufacturing

    5.1

    -3.9

    Footwear and Wearing Apparel*

    19.8

    -11.1

    Petroleum Products

    5.5

    12.8

    Textiles

    16.4

    -15.0

    Fabricated Metal Products*

    17.1

    -14.0

    Non-Metallic Mineral Products

    8.4

    -11.2

    Publishing and Printing*

    19.1

    -10.6

    Tobacco

    7.6

    -6.7

    Chemical Products

    2.0

    -1.9

    Wood and Wood Products

    16.0

    -10.5

    Paper and Paper Products

    8.3

    -9.3

    Miscellaneous Manufactures

    10.5

    -24.8

    Leather Products*

    35.8

    12.5

    Rubber Products

    6.7

    -22.0

    Beverages

    0.6

    -13.0

    Machinery Excluding Electrical*

    1.8

    -3.5

     
    Losers       Month-on-Month Growth (percent)      
    May 2006 April 2006
    (revised)
     

    Electrical Machinery

    -2.8

    -4.0

    Furniture and Fixtures

    -8.0

    -26.6


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

    Sectors are ranked according to their contribution to the overall 1994-based May 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, April 2006 - May 2006
    (1994=100)

                                Gainers                                       Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Basic Metals

    53.8

    25.1

    Food Manufacturing

    14.1

    -1.1

    Chemical Products

    3.8

    -3.0

    Leather Products*

    76.1

    54.0

    Tobacco

    3.3

    -3.3

    Miscellaneous Manufactures

    2.3

    -5.0

     
    Losers           Year-on-Year Growth (percent)          
    May 2006 April 2006
    (revised)
     

    Electrical Machinery

    -36.7

    -48.0

    Transport Equipment

    -24.3

    -39.2

    Machinery Excluding Electrical*

    -71.0

    -67.8

    Non-Metallic Mineral Products

    -25.5

    -32.3

    Beverages

    -13.2

    -10.5

    Petroleum Products

    -3.5

    -4.8

    Wood and Wood Products

    -37.3

    -25.2

    Textiles

    -8.3

    -17.4

    Paper and Paper Products

    -12.8

    -19.2

    Publishing and Printing*

    -16.2

    -25.8

    Rubber Products

    -21.2

    -31.3

    Footwear and Wearing Apparel*

    -3.3

    -18.6

    Fabricated Metal Products*

    -4.9

    -5.1

    Furniture and Fixtures

    -9.6

    -4.4

    TABLE 2-B. VOLUME OF NET SALES, April 2006 - May 2006 (concluded)
    (1994=100)

                                Gainers                                   Month-on-Month Growth (percent)      
    May 2006 April 2006
    (revised)
     

    Basic Metals

    36.9

    -1.7

    Transport Equipment

    26.7

    -21.2

    Footwear and Wearing Apparel*

    26.4

    -19.1

    Food Manufacturing

    5.8

    -4.6

    Textiles

    15.5

    -14.9

    Fabricated Metal Products*

    16.9

    -14.0

    Non-Metallic Mineral Products

    8.2

    -12.5

    Publishing and Printing*

    19.1

    -10.6

    Tobacco

    7.6

    -6.7

    Paper and Paper Products

    10.8

    -8.9

    Wood and Wood Products

    16.3

    -10.8

    Chemical Products

    1.2

    -2.1

    Miscellaneous Manufactures

    9.9

    -26.4

    Leather Products*

    35.8

    12.5

    Rubber Products

    6.5

    -26.9

    Beverages

    0.6

    -13.2

    Machinery Excluding Electrical*

    2.1

    -5.4

     
    Losers       Month-on-Month Growth (percent)      
    May 2006 April 2006
    (revised)
     

    Electrical Machinery

    -2.4

    -4.8

    Furniture and Fixtures

    -8.4

    -26.5

    Petroleum Products

    0.0

    10.4


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

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

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