r - revised

• Value of Production Index posts positive growth in May 2017

Value of Production Index (VaPI) for manufacturing exhibited an annual growth of 3.6 percent, posting the same growth as in May 2016, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Ten of the 15 major sectors significantly contributed to the positive increase in the value of production, as follows:footwear and wearing apparel (35.9%), basic metals (34.3%), printing (32.1%), tobacco products (29.9%), fabricated metal products (27.5%), petroleum products (27.4%), transport equipment (19.7%), non-metallic mineral products (17.5%), electrical machinery (11.9%) and leather products (11.8%). Refer to Tables1-A  and 1.

• Volume of Production Index grows at a slower pace

Volume of Production Index (VoPI) continued to gain at a slower rate of 5.8 percent in May 2017, compared with 7.4 percent during same period last year. Fabricated metal products contributed significantly to the growth with 116.9 percent, followed by major sectors that registered two-digit growth in VoPI, namely: leather products (44.3%), footwear and wearing apparel (34.6%), furniture and fixtures (34.4%), basic metals (29.1%), tobacco products (28.2%), printing (28.2%), non-metallic mineral products (22.6%),  transport equipment (22.2%), petroleum products (16.8%), electrical machinery (13.0%) and paper and paper products (11.1%). Refer to Tables 1-B and 2.

• Value of Net Sales Index expands

Value of Net Sales Index (VaNSI) grew slowly in May 2017 as it recorded an increase of 3.4 percent from 3.3 percent during the same month of the previous year. Four major sectors exhibited double-digit increases in VaNSI led by machinery except electrical (60.3%) followed by transport equipment (40.6%), printing (25.9%), petroleum products (15.4%) and electrical machinery (14.0%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index liksewise increase

Volume of Net Sales Index (VoNSI) continued to gain as it posted a year-on-year growth of 5.7 percent in May 2017. The major contributing factor were the increases in VoNSI exhibited by nine major sectors, with significant expansion observed in machinery except electrical (69.5%), fabricated metal products (67.5%), transport equipment (40.3%), leather products (28.7%), printing (22.2%), furniture and fixtures (20.7%), electrical machinery (15.9%), non-metallic mineral products (11.5%), and paper and paper products (10.0%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in May 2017 is 83.8 percent with basic metals posting the highest among industries

Average capacity utilization rate rate inMay 2017 for total manufacturing was recorded at  83.8 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These are:

• basic metals (88.7%)
• petroleum products (88.6%)
• non-metallic mineral products (86.7%)
• machinery except electrical (85.5%)
• food manufacturing (84.9%)
• electrical machinery (84.5%)
• chemical products (83.8%)
• paper and paper products (83.6%)
• rubber and plastic products (82.7%)
• wood and wood products (81.3%)
• printing (80.4%)

The proportion of establishmentsthatoperated at full capacity (90% to 100%) was recorded almost one-fourth of the total number of establishments (24.3%) in May 2017. Around 56 percent of the total establishments operated at 70 percent to 89 percent capacity while one-fifth of the total establishments (20.1%) operated below 70 percent capacity. Refer to Table B and 6.

• Response Rate

The response rates for the May 2017 MISSI and PPS were registered at 79.1 and 81.1 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.

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