VALUE OF PRODUCTION INDEX (VPI)
The manufacturing sector's value of production index (VPI) went up by 4.5 percent to 427.2 in November 1996 from 408.7 in the same month last year. On a month-on-month comparison, VPI decreased by 4.4 percent from October's 446.9. These figures were based on the results of the Survey of Key Enterprises in Manufacturing (SKEM), a regular monthly survey of the National Statistics Office (NSO) aimed to provide flash indicators on the performance of key manufacturing enterprises.
Year-on-year increases in VPI were observed in 11 major sectors. Among the 16 major sectors, miscellaneous manufactures posted the highest increase at 23.9 percent from 248.6 to 308.1. Electrical machinery sector followed with 18.2 percent from 675.9 to 798.7. Since January 1996, it posted double-digit year- on-year increases ranging from 14.9 percent to 77.1 percent due to continued increases in production of microcircuits, electrical wires and wiring products and electrical appliances. Other sectors that posted double-digit increases were non-metallic mineral products (15.8 percent), basic metals (14.5 percent), tobacco (12.9 percent) and furniture and fixtures (12.1 percent).
For the past 11 months, the wearing apparel sector posted declines. In November 1996, it recorded the biggest drop of 22.2 percent from last year's index of 279.6 to 217.6. Rubber products sector followed with 19.7 percent decrease.
Month-on-month decreases were observed in 13 sectors. Furniture and fixtures sector posted the biggest decline of 16.9 percent followed by petroleum products at 13.2 percent. On the other hand, three sectors posted increases: chemicals (5.7 percent), food manufacturing (3.8 percent) and non-metallic mineral products (1.1 percent).
VALUE OF PRODUCTION INDEX
GAINERS OVER LAST YEAR LOSERS OVER LAST YEAR
Misc. Manufactures 23.9% Wearing Apparel -22.2%
Electrical Machinery 18.2% Rubber Products -19.7%
Non-Metallic Mineral Prods. 15.8% Wood & Wood Products -15.2%
Basic Metals 14.5% Textile -10.5%
Tobacco 12.9% Transport Equipment - 2.5%
Furniture & Fixtures 12.1%
Petroleum Products 8.4%
Chemicals 8.4%
Beverage 4.0%
Food Manufacturing 3.0%
Paper & Paper Products 0.1%
GAINERS OVER LAST MONTH LOSERS OVER LAST MONTH
Chemicals 5.7% Furnitures & Fixtures -16.9%
Food Manufacturing 3.8% Petroleum Products -13.2%
Non-Metallic Mineral Prods 1.1% Transport Equipment - 9.3%
Beverage - 9.0%
Wearing Apparel - 7.2%
Textile - 5.4%
Rubber Products - 4.6%
Wood & Wood Products - 3.0%
Basic Metals - 1.6%
Electrical Machinery - 1.5%
Paper & Paper Products - 1.5%
Tobacco - 0.9%
Misc. Manufactures - 0.6%
VOLUME OF PRODUCTION INDEX (VoPI)
The Volume of Production Index (VoPI) is derived from Value of Production Index (VPI) and Producer's Price Index (PPI) with 1992 as the base year. The index is a measure of change in volume, net of inflation.
In November 1996, the VoPI of 144.5 for key manufacturing enterprises increased by 1.4 percent as compared with the index of 142.5 of the same month last year. Double- digit year-on-year increases were observed in six sectors. Glass and glass products sector reported the highest increase at 35.7 percent from 104.6 to 141.9. Other sectors that posted double- digit increases were miscellaneous non-metallic mineral products (24.4 percent), iron and steel (23.2 percent), other manufacturing industries (19.2 percent), electrical machinery (16.0 percent) and furniture and fixtures (13.1 percent), On the other hand, wearing apparel , non-ferrous metals, rubber products, wood and wood products, and paper and paper products posted double-digit decreases at 30.6 percent, 22.4 percent, 18.7 percent, 16.3 percent, and 12.7 percent, respectively.
On a month-on-month basis, the VoPI went down by 4.7 percent as compared with the previous month's index of 151.7. Furniture and fixtures posted the biggest decline of 16.9 percent followed by petroleum products at 15.2 percent. On the other hand, four sectors registered single-digit increases: glass and glass products (6.6 percent), chemicals (5.8 percent), food manufacturing (4.1 percent) and miscellaneous non-metallic mineral products (2.4 percent).
The November 1996 SKEM covered 422 sample establishments located mostly in Metro Manila and engaged primarily in manufacturing. This report is based on a response rate of 76.5 percent.
VOLUME OF PRODUCTION INDEX
GAINERS OVER LAST YEAR LOSERS OVER LAST YEAR
Glass and Glass Products 35.7% Wearing Apparel -30.6%
Misc. Non-Metallic Mineral Non- Ferrous Metal -22.4%
Products 24.4% Rubber Products -18.7%
Iron and Steel 23.2% Wood and Wood Products -16.3%
Other Mfg. Industries 19.2% Paper & Paper Products -12.7%
Electrical Machinery 16.0% Textile - 6.8%
Furniture & Fixtures 13.1% Cement - 4.5%
Tobacco 9.0% Transport Equipment - 3.4%
Petroleum Products 7.6% Beverage - 1.2%
Chemicals 4.3%
Food Manufacturing 0.4%
GAINERS OVER LAST MONTH LOSERS OVER LAST MONTH
Glass and Glass Products 6.6% Furniture and Fixtures -16.9%
Chemicals 5.8% Petroleum Products -15.2%
Food Manufacturing 4.1% Beverage - 9.0%
Misc. Non-Metallic Mineral Transport Equipment - 8.8%
Products 2.4% Wearing Apparel - 7.2%
Cement 0.2% Paper & Paper Products - 5.2%
Metals 0.1% Textile - 4.8%
Rubber Products - 4.6%
Wood and Wood Products - 3.7%
Other Mfg. Industries - 1.9%
Iron and Steel - 1.8%
Electrical Machinery - 1.5%
Tobacco - 1.1%
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: National Statistics Office
