r - revised

·  Value of Production Index (VaPI) registers growth

Value of Production Index (VaPI) of the manufacturing industry grew by 4.7 percent in November 2002 compared with year ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was brought about by improved factory performance in fifteen (15) sectors, with double-digit increases observed in the following: leather products, rubber products, textile, transport equipment, non-metallic mineral products, footwear and wearing apparel, fabricated metal products, food manufacturing and paper and paper products (see Table 1-A).

However, on a month-on-month basis, VaPI fell by 0.3 percent from a positive growth rate of 1.4 percent in the previous month. Major sectors that contributed to the slide were leather products, petroleum products and miscellaneous manufactures (see Table 1-A).

·  Volume of Production Index (VoPI) on the downtrend

Volume of Production Index (VoPI) continued its year-on-year decline but at slower rate of 0.7 percent in November 2002. Significant decreases in production were observed in the following sectors: publishing and printing, wood and wood products, miscellaneous manufactures, machinery excluding electrical, and chemical products (see Table 1-B).

On a month-on-month basis, VoPI slipped 0.3 percent from an increase of 1.0 percent in October 2002. Sectors attributing to the drop were leather products, petroleum products and miscellaneous manufactures (see Annex 1-B).

·  Value of Net Sales improves further

Value of net sales exhibited growth of 7.7 percent in November 2002 over the year ago figure. Sectors that contributed significant increases were the following: machinery excluding electrical, leather products, furniture and fixtures, rubber products, textile, petroleum products, publishing and printing, tobacco and beverage (see Table 2-A).

On a month-on-month basis, value of net sales jumped 2.3 percent from a decline of 2.0 percent in the previous month. This was due to the outstanding growth of electrical machinery sector (see Table 2-A)

·  Net Sales Volume picks up

Year-on-year growth of net sales volume slightly improved by 1.0 percent in November 2002. Double-digit increases were registered by the following sectors: leather products, machinery excluding electrical, rubber products, furniture and fixtures and textile (see Table 2-B).

On a monthly basis, volume of net sales made a turnaround, as it grew by 2.3 percent from the previous month�s drop of 2.5 percent. This was brought about by significant gains made by electrical machinery and wood and wood products (see Table 2-B).

·  Producer's Price Index (PPI) continues to increase

The Producer�s Price Index (PPI) for total manufacturing reflected a year-on-year increase of 5.5 percent in November 2002. Sectors that recorded double-digit increases were the following: publishing and printing, 26.7%; beverage, 13.7%; wood and wood products, 13.2%; petroleum products, 12.8% and electrical machinery, 10.4% (see Table 5).

On a month-on-month basis, PPI for total manufacturing remained flat compared to the 0.4 percent increase in the previous month. The following sectors registered increases in PPI: footwear and wearing apparel; chemical products; non-metallic mineral products; textile; electrical machinery; miscellaneous manufactures; furniture and fixtures; fabricated metal products and food manufacturing (see Table 5).

·  Capacity Utilization

In November 2002, average capacity utilization for total manufacturing was estimated at 75.2 percent. Sectors that posted more than 80% capacity utilization rate were the following: petroleum products, machinery excluding electrical, footwear and wearing apparel, paper and paper products, and rubber products (see Table 6).

The proportion of responding establishments that operated at full capacity (90%-100%) in November 2002 was 19.5 percent. About 38.9 percent of the responding establishments operated at 70%-89% capacity and 41.6 percent of the establishments operated below 70% capacity.

Distribution of Key Manufacturing Establishments
by Capacity Utilization
Total Manufacturing, November 2002
(In percent)

·  Response Rate

The response rate for November 2002 is 81.7 percent, which corresponds to the retrieval of 474 sample establishments� reports (see Table 7).

Response Rates for Total Manufacturing
(In percent)

·  Technical Notes

Data of nonresponding 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.

Table 1-A. Value of Production Index, October - November 2002
(1994 =100)

Table 1-A. Value of Production Index, October - November 2002 (concluded)

Note: * - New sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based November 2002 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, October - November 2002
(1994 = 100)

Table 1-B. Volume of Production Index, October - November 2002 (concluded)

Note: * - New sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based November 2002 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, October - November 2002
(1994=100)

Table 2-A. Value of Net Sales, October - November 2002 (concluded)
(1994=100)

Note: * - New sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based November 2002 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, October - November 2002

Table 2-B. Volume of Net Sales, October - November 2002 (concluded)
(1994=100)

Note: * - New sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based November 2002 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