r-revised
                                         

·  Value of Production posts slower growth in November 2008

Value of Production Index (VaPI) for the manufacturing industry grew at a slower rate of 1.4 percent in November 2008 compared with the year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Sectors that significantly contributed to the increase were the following: beverages, fabricated metal products, food manufacturing, footwear and wearing apparel, non-metallic mineral products, wood and wood products, publishing and printing, rubber and plastic products, and leather products. Refer to Tables 1-A and 1.

On the other hand, VaPI on a month-on-month basis fell by 8.3 percent in November 2008. Fifteen major sectors reported decreases in value of production with significant decline observed in the following sectors: petroleum products (-51.7%), miscellaneous manufactures (-26.2%), and electrical machinery (-12.7%). Refer to Tables 1-A and 1.

·  Volume of Production declines in November 2008

Volume of Production Index (VoPI) dropped by 6.6 percent in November 2008 from the positive growths exhibited for the last seven months of this year. This was due to the shortfall in production output observed in ten major sectors, with two-digit decreases observed in the following: miscellaneous manufactures, machinery except electrical, petroleum products, textiles, furniture and fixtures and electrical machinery. Refer to Tables 1-B and 2.

VoPI, on a month-on-month basis, likewise, decreased by 8.1 percent in November 2008. Sixteen major sectors accounted for the declines in factory output led by petroleum products, miscellaneous manufactures, and electrical machinery. Refer to Tables 1-B and 2.

·  Value of Net Sales decelerates in November 2008

Value of Net Sales Index (VaNSI) registered a year-on-year decline of 3.2 percent in November 2008. This was brought about by the poor sales performance of ten major sectors, with two-digit decreases reported by the following: miscellaneous manufactures, machinery except electrical, furniture and fixtures, textiles, petroleum products, and footwear and wearing apparel. Refer to Tables 2-A and 3.

Likewise, VaNSI posted a month-on-month decrease of 10.9 percent in November 2008.This was due to the reduction in sales of 13 major sectors, led by miscellaneous manufactures (-49.5 %) and petroleum products (-32.5%). Refer to Tables 2-A and 3.

·  Volume of Net Sales falls further in November 2008

On a year-on-year basis, Volume of Net Sales Index (VoNSI) recorded a two-digit decline of 10.8 percent in November 2008. Fourteen of the 20 major sectors posted decreases in sales volume, with two-digit increases registered by the following: miscellaneous manufactures, machinery except electrical, textiles, footwear and wearing apparel, furniture and fixtures, food manufacturing, electrical machinery, and wood and wood products. Refer to Tables 2-B and 4.

VoNSI, on a monthly basis, also fell by 10.7 percent in November 2008. Thirteen major sectors reported a month-on-month decreases in sales volume, led by miscellaneous manufactures with a decline of 50.6 percent. Refer to Tables 2-B and 4.

·  Capacity Utilization

Average capacity utilization in November 2008 for total manufacturing was estimated at 80.7 percent. Ten major sectors that registered capacity utilization rates of 80% and more were the following: basic metals, food manufacturing, leather products, paper and paper products, chemical products (excluding plastic products), miscellaneous manufactures, electrical machinery, petroleum products, rubber and plastic products, and footwear and wearing apparel. Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 11.8 percent in November 2008. More than half or 61.1 percent of the establishments operated at 70% to 89% capacity while 27.1 percent of the establishments operated below 70% capacity.

·  Response Rates

The response rates for the November 2008 MISSI and PPS are 85.2 percent and 96.1 percent, respectively. Refer to Tables 7 and 8

               r-revised

·  Technical Notes

Only the 2000 based series will be continued beginning the July 2008 issue.

Starting with the February 2008 issue, a revised industry disaggregation of the MISSI indices and PPI will be adopted to conform to the 1994 PSIC groupings. Rubber and Plastic Products is a new major sector, consisting of two subsectors, namely: Rubber Products and Plastic Products. Rubber Products was previously a major sector while Plastic Products was one of the sub-sectors of Chemical Products.

With previously seven (7) subsectors, the major sector of Chemical Products has now six (6) subsectors, namely: Basic Chemicals and Industrial Gases, Fertilizers, Paints, Drugs and Medicines, Cosmetics and Toilet Preparations, and Miscellaneous Chemicals.

The major sector of Machinery except Electrical has been split into two subsectors, namely: Machinery and Equipment, n.e.c. and Office, Accounting and Computing Machinery.

The corresponding weights of the above major sectors and sub-sectors have been recomputed to allow for the revised computation of the indices.

Thus, beginning the February 2008 issue, the VaPI, VoPI, VaNSI, VoNSI and the revised PPI for Total Manufacturing for all months of 2008 are computed based on the revised industry disaggregation.

Starting 2008, weights for the PPI and Capacity Utilization Rates are based from the results of the 2005 Annual Survey of Philippine Business and Industry for manufacturing establishments with average total employment of 20 and over.

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.
 

Notes:

* - new sector in the 2000-based series.

Sectors are ranked according to their contribution to the overall 2000-based November 2008 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.

Notes

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based November 2008 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.

Note:

* - new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based November 2008 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.

Note:

*  -   new sector in the 2000-based series

Sectors are ranked according to their contribution to the overall 2000-based November 2008 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