r - revised

• Value of Production Index posts a downward trend in May 2015

Value of Production Index (VaPI) for total manufacturing shrank further as it posted an annual decrement of 7.3 percent in May 2015, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). The contraction in VaPI were exhibited by nine out of 20 major sectors, with two-digit decreases noted in the following: wood and wood products (-31.7%), furniture and fixtures (-28.3%), petroleum products (-23.0%), footwear and wearing apparel (-19.6%), basic metals (-19.3%),food manufacturing (-13.1%) and electrical machinery (-12.0%). Refer to Tables 1-A and 1.

• Volume of Production contracts in May 2015

Volume of Production Index (VoPI) on a year-on-year comparison dropped by 3.1 percent in May 2015 compared with the two-digit growth of 12.7 percent during the same month of last year. Half of the 20 major sectors reporting decreases in VoPI, five significantly contributed to the decline, namely: footwear and wearing apparel (-19.2%), wood and wood products (-18.4%), basic metals (-16.0%), food manufacturing (-13.9%) and beverages (-10.2%). Refer to Tables 1-B and 2.

• Value of Net Sales Index continues to decelerate in May 2015

Value of Net Sales Index (VaNSI) continued to fall since December 2014, recording a two-digit annual decrement of 11.7 percent in May 2015. There were 11 major sectors that showed decreases in VaNSI, with seven sectors attributing to the significant decreases: printing (-51.3%), petroleum products (-29.0%), wood and wood products (-19.8%),   basic metals (-15.6%),   food manufacturing (-13.1%)   and  beverages (-11.2%) and machinery excluding electrical (-10.4%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index declines in May 2015

Volume of Net Sales Index (VoNSI) went down 7.7 percent in May 2015 compared with 9.2 percent growth during the same month last year. Five major sectors largely contributed to the reduction in VoNSI. These were printing (-50.9%), beverages (-18.4%), food manufacturing (-13.9%), petroleum products (-13.4%) and basic metals (-12.2%). Refer to Tables 2-B and 4.

• Average Capacity Utilization in May 2015 is 83.3 percent

Average capacity utilization rate in May 2015 for total manufacturing was recorded at 83.3 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 (88.4%)
• non-metallic mineral products (86.4%)
• machinery except electrical (84.7%)
• electrical machinery (84.4%)
• food manufacturing (84.3%)
• chemical products (83.3%)
• paper and paper products (83.2%)
• rubber and plastic products (82.4%)
• wood and wood products (80.7%)
• printing (80.2%)

The proportion of establishments that operated at full capacity (90% to 100%) was 25.4 percent in May 2015. About 56.4 percent of the establishments operated at 70 percent to 89 percent capacity while 18.2 percent of the establishments operated below 70 percent capacity. Refer to Table 6 and B.

• Industry Coverage

The 2015 MISSI utilizes the 2009 Philippine Standard Industrial Classification (PSIC) to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were formed to comprise the industry coverage of the 2015 MISSI. These are presented in the table below.

• Response Rate      

The response rates for the May 2015 MISSI and PPS are 77.1 percent and 83.0 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.

(Sgd) LISA GRACE S. BERSALES, Ph.D.
                 National Statistician

TABLE 1-A Value of Production Index, April 2015– May 2015

   (2000 =100)

Notes:                

TABLE 1-B  Volume of Production Index, April 2015– May 2015

(2000 = 100)

Notes:                

TABLE 2-A  Value of Net Sales Index, April 2015– May 2015

(2000 =100)

Notes:                

TABLE 2-B  Volume of Net Sales Index, April 2015– May 2015

(2000 = 100)

Notes: