r -revised

·  Value of Production Index (VaPI) continues to improve

The Value of Production Index (VaPI) for the manufacturing industry on a year-on-year basis grew by 19.5 percent in November 2004, compared with year ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Seventeen major sectors posted double-digit increases, as follows: leather products, furniture and fixtures, rubber products, wood and wood products, publishing and printing, petroleum products, transport equipment, paper and paper products, electrical machinery, footwear and wearing apparel, basic metals, beverage, non-metallic mineral products, textile, fabricated metal products, miscellaneous manufactures and chemical products.Refer to Tables 1-A and 1.

However, VaPI slid by 1.0 percent in November 2004 on a month-on-month basis. Sectors that significantly contributed to the decline were non-metallic mineral products and tobacco.Refer to Tables 1-A and 1.

·  Volume of Production Index (VoPI) picks up

Volume of Production Index (VoPI) continued to increase as it posted 8.7 percent growth in November 2004. Sectors that exhibited significant expansion in output were furniture and fixtures, leather products, rubber products, wood and wood products, publishing and printing, transport equipment, paper and paper products, beverage and electrical machinery. Refer to Tables 2 and 1-B.

On the other hand, month-on-month performance of VoPI in November 2004 fell by 1.0 percent. Sectors that significantly contributed to the slide were non-metallic mineral products and tobacco. Refer to Tables 2 and 1-B.

·  Value of Net Sales maintains positive growth

Value of Net Sales in November went up by 12.7 percent compared to a year ago figure. Significant increments were depicted in the following sectors: leather products, wood and wood products, publishing and printing, furniture and fixtures, rubber products, basic metals, transport equipment, textile, miscellaneous manufactures, petroleum products, electrical machinery and paper and paper products. Refer to Tables 2-A and 3.

On a month-on-month basis, Value of Net Sales decreased by 3.4 percent in November 2004. Sectors that attributed to the decrease were non-metallic mineral products, chemical products and fabricated metal products. Refer to Tables 2-A and 3.

·  Volume of Net Sales slides

Net Sales Volume exhibited a decrease of 2.2 percent in November 2004 compared with year-ago figure. This was due to the double-digit decreases posted by the following sectors: footwear and wearing apparel, tobacco, machinery excluding electrical, petroleum products, chemical products and non-metallic mineral products. Refer to Tables 2-B and 4.

On a monthly basis, Volume of Net Sales declined by 3.4 percent in November 2004. This was primarily due to the sluggish performance of non-metallic mineral products, chemical products and fabricated metal products. Refer to Tables 2-B and 4.

·  Producers Price Index (PPI) continues to rise

The Producers Price Index (PPI) for total manufacturing on a year-on-year comparison posted an increase of 10.0 percent in November 2004. Footwear and wearing apparel led all sectors with an increase of 43.0 percent. Other sectors that posted double-digit increases were the following: basic metals, petroleum products, tobacco, non-metallic mineral products, fabricated metal products, food manufacturing and electrical machinery. Refer to Table 5..

On a monthly comparison, PPI for total manufacturing went down by 0.04 percent in November 2004. Sectors that contributed to the decrease were paper and paper products and food manufacturing. Refer to Table 5.

·  Capacity Utilization

Average capacity utilization in November 2004 for total manufacturing was estimated at 79.9 percent. Sectors that posted more than 80% capacity utilization rates were the following: machinery excluding electrical, electrical machinery, paper and paper products, miscellaneous manufactures, petroleum products, rubber products, leather products, basic metals, chemical products and food manufacturing. Refer to Table 6..

The proportion of establishments that operated at full capacity (90%-100%) in November 2004 was 14.2 percent. More than half or 54.6 percent of the establishments operated at 70%-89% capacity and 31.2 percent of the establishments operated below 70% capacity.

Distribution of Key Manufacturing Establishments by Capacity Utilization
Total Manufacturing, November 2004
(In percent)

·  Response Rate

The response rate for November 2004 is 87.4 percent, which corresponds to the retrieval of 470 sample establishments reports. Refer to Table 7.

Response Rates for Total Manufacturing
(In percent)

·  Technical Notes

Starting 2004, weights for the Producers Price Index (PPI) are based from the results of the 2000 Census of Philippine Business and Industry (CPBI) for establishments with average total employment (ATE) of 20 and over. Reference year for the 2000 CPBI is 1999. Refer to Press Release on Revision of 2004 PPI weights..

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.
 

TABLE 1-A. VALUE OF PRODUCTION INDEX, October - November 2004
(1994 =100)

TABLE 1-A. VALUE OF PRODUCTION INDEX, October - November 2004
(concluded)
(1994=100)

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

Sectors are ranked according to their contribution to the overall 1994-based November 2004 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 2004
(1994 = 100)

TABLE 1-B. VOLUME OF PRODUCTION INDEX, October - November 2004
(concluded)
(1994=100)

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

Sectors are ranked according to their contribution to the overall 1994-based November 2004 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 2004
(1994=100)

TABLE 2-A. VALUE OF NET SALES, October - November 2004 (concluded)
(1994=100)

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

Sectors are ranked according to their contribution to the overall 1994-based November 2004 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 2004
(1994=100)

TABLE 2-B. VOLUME OF NET SALES, October - November 2004 (concluded)
(1994=100)

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

Sectors are ranked according to their contribution to the overall 1994-based November 2004 growth rate.

Year-on-year growth ratesare 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