Monthly Integrated Survey of Selected Industries : October 2007

Reference Number: 

2007-098

Release Date: 

Thursday, December 27, 2007

 

Total Manufacturing

October 2007

September 2007

Year-on-Year Growth

 

    Production Index (1994=100)

 

            Value (VaPI)

0.4

-1.0r

            Volume (VoPI)

-1.7

-2.7r

    Net Sales

 

            Value

2.4

2.7r

            Volume

-1.1

-0.1r

    Producer Price Index (1994=100)

2.2r

1.8r

    Average Capacity Utilization

80.5

80.4r

              r-revised

·  Value of Production posts positive growth in October 2007

Value of Production Index (VaPI) for the manufacturing industry managed to grow at a slower rate of 0.4 percent in October 2007 from the previous month's decrease (revised) of 1.0 percent, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Though 11 major sectors posted decreases, this was offset by the increases in nine (9) major sectors with two-digit increases observed in the following: wood and wood products, transport equipment, petroleum products, leather products, beverages and publishing and printing. Refer to Tables 1-A and 1 .

On a month-on-month basis, VaPI also grew by 2.2 percent in October 2007 compared to the decrease (revised) of 1.1 percent in September 2007. This was primarily due to the improved factory output of basic metals and beverages, with two-digit growth of 16.1 percent and 16.0 percent, respectively. Refer to Tables 1-A and 1.

·  Volume of Production Index declines at slower rate

On the other hand, Volume of Production Index (VoPI) continued its downtrend but at a slower rate of 1.7 percent in October 2007 compared with the year-ago figure. This was brought about by the significant reductions in factory output in the following major sectors: tobacco, textiles, basic metals, footwear and wearing apparel, electrical machinery and chemical products. Refer to Tables 2 and 1-B.

On a monthly basis, VoPI recovered by 2.2 percent in October 2007 compared to the previous month's decrease (revised) of 1.2 percent. The increase was mainly due to the increases reported by 12 major sectors, led by beverages and basic metals with two-digit growth of 16.0 and 14.8 percent, respectively. Refer to Tables 2 and 1-B.

Figure 1

·  Value of Net Sales continues to rise in October 2007

On a yearly basis, Value of Net Sales continued its uptrend as it gained 2.4 percent in October 2007. Thirteen (13) of the 20 major sectors reported increases in sales, with two-digit growth observed in the following: transport equipment, beverages, machinery excluding electrical, petroleum products, wood and wood products, paper and paper products and fabricated metal products. Refer to Tables 2-A and 3.

Value of Net Sales on a monthly basis also grew by 2.1 percent in October 2007. The major sectors that significantly contributed to the increase were the following: textiles, machinery excluding electrical and petroleum products. Refer to Tables 2-A and 3.

·  Volume of Net Sales slumps

However, Volume of Net Sales slipped further by 1.1 percent in October 2007 from the previous month's decrease (revised) of 0.1 percent. The two-digit decreases reported by four (4) major sectors outpaced the two-digit increases reported in eight (8) major sectors. Refer to Tables 2-B and 4.

Volume of Net Sales on month-on-month basis reflected an increment of 1.7 percent in October 2007. This was due to the improved sales in textiles and machinery excluding electrical, with 13.6 percent and 12.8 percent increases, respectively. Refer to Tables 2-B and 4.

·  Capacity Utilization

Average capacity utilization in October 2007 for total manufacturing was estimated at 80.5 percent. Major sectors that registered more than 80% capacity utilization rates were the following: machinery excluding electrical, paper and paper products, miscellaneous manufactures, petroleum products, basic metals, leather products, electrical machinery, rubber products, food manufacturing and chemical products. Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 10.9 percent in October 2007. More than half or 57.2 percent of the establishments operated at 70% to 89% capacity while 31.9 percent of the establishments operated below 70% capacity.

Distribution of Key Manufacturing Establishments by Capacity Utilization
Total Manufacturing, October 2007

(In percent)

Capacity Utilization

Percent Share

Below 50 percent

3.4

50 percent - 59 percent

8.7

60 percent - 69 percent

19.8

70 percent - 79 percent

19.4

80 percent - 89 percent

37.8

90 percent - 100 percent

10.9

 

·  Response Rates

The response rates for the October 2007 MISSI and PPS are 86.2 percent and 91.1 percent, respectively. Refer to Tables 7 and 8.

Response Rates for Total Manufacturing
(In percent)

 

October 2007

September 2007
(revised)

MISSI

86.2

94.5r

PPS

91.1r

96.7r

 

                       r-revised

·  Technical Notes

For the 2007 monthly issues, the 2000 based series of MISSI indices and PPI are simultaneously released with the 1994 based indicators. The 2000 based series for 2001 to 2006 were earlier made available in separate Special Release.

Starting 2006, weights for the Producer Price Index (PPI) are based from the results of the 2003 Annual Survey of Philippine Business and Industry (ASPBI) for manufacturing establishments with average total employment (ATE) 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.

 

                                                                                                    (Sgd.) CARMELITA N. ERICTA
                                                                                                    Administrator


TABLE 1-A. VALUE OF PRODUCTION INDEX, September 2007 - October 2007
(1994 =100)
 

 

Gainers

Year-on-Year Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

Petroleum Products

29.4

6.7

 

Transport Equipment

31.4

17.3

 

Beverages

22.6

-0.8

 

Wood and Wood Products

58.5

50.7

 

Publishing and Printing*

14.0

28.7

 

Fabricated Metal Products*

5.7

-3.1

 

Machinery Excluding Electrical*

5.9

1.8

 

Paper and Paper Products

3.0

2.8

 

Leather Products*

28.8

66.5

 

 

 

 

 

Losers

Year-on-Year Growth (percent)

October 2007

September 2007
(revised)

 

Electrical Machinery

-18.5

-23.3

Tobacco

-37.0

-40.5

Chemical Products

-9.6

22.8

Food Manufacturing

-4.4

5.1

Textiles

-20.5

-20.9

Footwear and Wearing Apparel*

-13.7

-2.7

Basic Metals

-7.0

-26.1

Furniture and Fixtures

-13.3

-13.4

Miscellaneous Manufactures

-5.8

-12.6

Rubber Products

-8.5

-6.7

Non-Metallic Mineral Products

-1.5

1.4

 

 

TABLE 1-A. VALUE OF PRODUCTION INDEX, September 2007 - October 2007(concluded)
(1994=100)
 

 

Gainers

Month-on-Month Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

Food Manufacturing

5.6

3.3

 

Basic Metals

16.1

-12.7

 

Petroleum Products

7.5

-10.9

 

Beverages

16.0

-3.9

 

Transport Equipment

5.2

7.7

 

Machinery Excluding Electrical*

9.3

4.2

 

Tobacco

3.8

-14.0

 

Fabricated Metal Products*

5.5

-17.1

 

Paper and Paper Products

4.1

-3.0

 

Wood and Wood Products

5.2

-1.9

 

Rubber Products

7.4

-5.2

 

 

 

 

 

Losers

Month-on-Month Growth (percent)

October 2007

September 2007
(revised)

 

Electrical Machinery

-7.2

16.3

Chemical Products

-6.8

-4.9

Footwear and Wearing Apparel*

-7.8

9.6

Textiles

-2.1

-9.8

Furniture and Fixtures

-3.6

-6.4

Publishing and Printing*

-1.8

28.2

Miscellaneous Manufactures

-1.8

-3.3

Leather Products*

-13.5

3.4

Non-Metallic Mineral Products

-0.5

-4.0

 

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

Sectors are ranked according to their contribution to the overall 1994-based October 2007 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, September 2007 - October 2007
(1994 = 100)
 

 

Gainers

Year-on-Year Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

Petroleum Products

19.2

5.5

 

Transport Equipment

23.9

12.1

 

Beverages

21.7

-1.6

 

Wood and Wood Products

66.8

57.4

 

Fabricated Metal Products*

8.5

-2.0

 

Miscellaneous Manufactures

5.6

-2.7

 

Paper and Paper Products

2.8

2.9

 

Machinery Excluding Electrical*

3.5

-0.4

 

Leather Products*

20.4

55.6

 

Furniture and Fixtures

1.5

-1.9

 

 

 

 

 

Losers

Year-on-Year Growth (percent)

October 2007

September 2007
(revised)

 

Food Manufacturing

-9.6

-0.7

Electrical Machinery

-15.2

-20.5

Chemical Products

-13.1

18.6

Basic Metals

-19.2

-35.2

Tobacco

-36.7

-40.2

Footwear and Wearing Apparel*

-15.9

-4.7

Textiles

-20.5

-20.6

Non-Metallic Mineral Products

-4.1

-3.1

Publishing and Printing*

-5.7

6.4

Rubber Products

-8.2

-5.9

 

 

TABLE 1-B. VOLUME OF PRODUCTION INDEX, September 2007 - October 2007(concluded)
(1994=100)
 

 

Gainers

Month-on-Month Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

 

Food Manufacturing

5.2

2.6

 

Basic Metals

14.8

-12.2

 

Beverages

16.0

-3.9

 

Petroleum Products

4.4

-12.1

 

Transport Equipment

5.6

7.9

 

Machinery Excluding Electrical*

9.3

3.0

 

Tobacco

3.8

-14.0

 

Fabricated Metal Products*

5.5

-15.3

 

Paper and Paper Products

4.2

-1.6

 

Wood and Wood Products

5.4

-1.9

 

Rubber Products

7.4

-4.5

 

Furniture and Fixtures

4.1

-7.2

 

 

 

Losers

 

 

Month-on-Month Growth (percent)
October 2007 September 2007
(revised)

Chemical Products

-7.5

-5.7

 

Electrical Machinery

-6.3

17.5

 

Footwear and Wearing Apparel*

-7.8

11.3

 

Textiles

-2.2

-9.8

 

Publishing and Printing*

-1.8

28.2

 

Non-Metallic Mineral Products

-0.6

-5.0

 

Leather Products*

-13.5

3.1

 

Miscellaneous Manufactures

-0.7

-3.5

 

 

Notes * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based October 2007 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, September 2007 - October 2007
 

 

Gainers

Year-on-Year Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

Transport Equipment

41.9

30.9

 

Petroleum Products

14.3

-6.4

 

Beverages

18.2

14.1

 

Paper and Paper Products

12.6

13.4

 

Non-Metallic Mineral Products

6.4

11.0

 

Fabricated Metal Products*

12.0

-5.5

 

Machinery Excluding Electrical*

14.7

-3.2

 

Tobacco

5.8

1.4

 

Wood and Wood Products

13.2

-0.3

 

Footwear and Wearing Apparel*

3.0

-3.7

 

Furniture and Fixtures

8.6

-2.0

 

Miscellaneous Manufactures

3.8

3.0

 

Publishing and Printing*

0.4

16.9

 

 

 

 

 

Losers

Year-on-Year Growth (percent)

October 2007

September 2007
(revised)

 

Electrical Machinery

-12.7

-9.8

Basic Metals

-22.7

-11.3

Food Manufacturing

-5.2

5.5

Textiles

-9.2

-26.2

Chemical Products

-1.1

15.9

Leather Products*

-47.5

-49.0

Rubber Products

-5.5

-5.2

 

 

TABLE 2-A. VALUE OF NET SALES, September 2007 - October 2007(concluded)
 

 

Gainers

Month-on-Month Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

Petroleum Products

11.8

-2.1

 

Textiles

13.7

-9.7

 

Footwear and Wearing Apparel*

9.5

-1.4

 

Transport Equipment

6.1

8.9

 

Machinery Excluding Electrical*

12.7

1.0

 

Fabricated Metal Products*

9.1

-11.5

 

Tobacco

5.2

-8.6

 

Food Manufacturing

0.2

0.4

 

Paper and Paper Products

1.6

10.4

 

Non-Metallic Mineral Products

0.8

3.9

 

Wood and Wood Products

1.3

-12.8

 

 

 

 

 

Losers

Month-on-Month Growth (percent)

October 2007

September 2007
(revised)

 

Chemical Products

-5.6

6.4

Electrical Machinery

-3.3

13.5

Furniture and Fixtures

-13.2

6.0

Beverages

-1.1

9.6

Basic Metals

-0.6

0.4

Miscellaneous Manufactures

-3.1

4.8

Leather Products*

-7.0

22.3

Rubber Products

-1.2

-0.5

Publishing and Printing*

-0.7

-11.3

 

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

Sectors are ranked according to their contribution to the overall 1994-based October 2007 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, September 2007 - October 2007
 

 

Gainers

Year-on-Year Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

 

 

 

 

Transport Equipment

33.7

25.1

 

Beverages

17.2

13.2

 

Petroleum Products

5.3

-7.4

 

Fabricated Metal Products*

15.0

-4.5

 

Paper and Paper Products

12.4

13.6

 

Wood and Wood Products

19.1

4.1

 

Tobacco

6.3

1.8

 

Miscellaneous Manufactures

16.4

14.7

 

Furniture and Fixtures

27.2

11.0

 

Machinery Excluding Electrical*

12.0

-5.3

 

Non-Metallic Mineral Products

3.5

6.1

 

Footwear and Wearing Apparel*

0.5

-5.6

 

 

 

Losers

 

 

Year-on-Year Growth (percent)
October 2007 September 2007
(revised)

Basic Metals

-32.8

-22.4

 

Food Manufacturing

-10.4

-0.3

 

Electrical Machinery

-9.1

-6.6

 

Chemical Products

-5.0

12.1

 

Textiles

-9.1

-26.0

 

Publishing and Printing*

-16.9

-3.3

 

Leather Products*

-50.9

-52.3

 

Rubber Products

-5.2

-4.4

 

 

 

TABLE 2-B. VOLUME OF NET SALES, September 2007 - October 2007 (concluded)
 

 

Gainers

Month-on-Month Growth (percent)

 

October 2007

September 2007
(revised)

 

 

 

Petroleum Products

8.5

-3.4

 

Textiles

13.6

-9.6

 

Footwear and Wearing Apparel*

9.5

0.1

 

Transport Equipment

6.6

9.1

 

Machinery Excluding Electrical*

12.8

-0.2

 

Fabricated Metal Products*

9.1

-9.6

 

Tobacco

5.2

-8.6

 

Paper and Paper Products

1.7

12.0

 

Non-Metallic Mineral Products

0.7

2.8

 

Wood and Wood Products

1.5

-12.8

 

 

 

 

 

Losers

Month-on-Month Growth (percent)

October 2007

September 2007
(revised)

 

Chemical Products

-6.3

5.5

Electrical Machinery

-2.3

14.8

Basic Metals

-1.7

0.9

Beverages

-1.1

9.6

Furniture and Fixtures

-6.2

5.1

Food Manufacturing

-0.1

-0.2

Miscellaneous Manufactures

-2.0

4.6

Leather Products*

-7.0

21.9

Rubber Products

-1.2

0.3

Publishing and Printing*

-0.7

-11.3

 

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

Sectors are ranked according to their contribution to the overall 1994-based October 2007 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

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