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• Value of Production Index in October 2013 posts the highest growth since May 2010

Value of Production Index (VaPI) for the manufacturing posted an annual increase  of 18.2 percent in October 2013, the highest since 19.3 percent growth recorded in May 2010, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was brought about by the consistent three-digit growth experienced by chemical products (200.9%) and leather products (193.5%). Double-digit growths in VaPI were also recorded by eleven major sectors. These were the following: furniture and fixtures (94.1%), tobacco products (49.7%), basic metals (31.2%), publishing and printing (29.2%), textiles (27.1%), rubber and plastic products (22.2%), machinery except electrical (21.3%), non-metallic mineral products (17.7%), electrical machinery (16.4%), footwear and wearing apparel (14.9%) and fabricated metal products (10.1%). Refer to Tables 1-A and 1.

On a monthly basis, VaPI reflected an increment of 7.1 percent in October 2013. Increases were observed in fourteen major sectors with double-digit growths in nine major sectors led by footwear and wearing apparel (59.9%). Refer to Tables 1-A and 1.

• Volume of Production Index Keeps its two-digit in October 2013

Volume of Production Index (VoPI) further increased in October 2013 registering a two-digit annual growth of 25.3 percent. Three major sectors mainly influenced the growth, these were chemical products, furniture and fixtures and leather products, with growths of 215.0 percent, 208.1 percent and 190.5 percent, respectively. Nine other major sectors that contributed to the significant performance of VoPI  were tobacco products (61.5%), basic metals (49.2%), machinery except electrical (35.4%), rubber and plastic products (32.9%), textiles (24.9%), publishing and printing (18.5%), non-metallic mineral products (16.8%), electrical machinery (15.3%), and fabricated metal products (13.3%). Refer to Tables 1-B and 2.

On a monthly basis, however, VoPI gained at a slower rate of 6.7 percent growth in October 2013. Nine major sectors contributed to the growth namely: footwear and wearing apparel (59.9%), leather products (26.1%), petroleum products (18.5%), textiles (18.1%), tobacco products (17.4%), basic metals (17.3%), non-metallic mineral products (13.5%), rubber and plastic products (12.2%) and fabricated metal products (10.0%). Refer to Tables 1-B and 2.

• Value of Net Sales Index maintains an upward trend in October 2013

Value of Net Sales Index (VaNSI) registered a 28.0 percent increase in October 2013, keeping its double-digit growth since June 2013. This can be attributed to the significant expansion in sales value registered by chemical products with an annual increase of 248.4 percent. Moreover, nine major sectors with double-digit increases also pulled-up the VaNSI namely:  furniture and fixtures (80.5%), machinery except electrical (42.3%), tobacco products (33.8%), leather products (33.3%), textiles (28.4%), transport equipment (21.1%), publishing and printing (20.9%), wood and wood products (15.7%) and basic metals (15.1%). Refer to Tables 2-A and 3.

On a month-on-month change, VaNSI posted an increase of 3.7 percent in October 2013. This was influenced by the significant growths of three major sectors namely: tobacco products (16.7%), footwear and wearing apparel ((13.0%) and furniture and fixtures (12.4%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index grows further

Volume of Net Sales Index (VoNSI) gained further as it posted a two-digit increment of 35.6 percent in October 2013. Fourteen major sectors accounted for the growth in VoPI led by chemical products and furniture and fixtures that posted the largest increase of 264.8 percent and 186.4 percent, respectively. Other major sectors that exhibited two-digit increases were the following: machinery except electrical (58.8%), tobacco products (44.3%), transport equipment (34.4%), leather products (31.8%), basic metals (30.9%), textiles (26.2%), fabricated metals (11.4%), wood and wood products (11.4%), and publishing and printing (10.9%). Refer to Tables 2-B and 4.

On a month-on-month comparison, VoNSI posted an increment of 3.4 percent in October 2013. Sectors that significantly influenced the increase were the tobacco products and footwear and wearing apparel, with two-digit increases of 16.7 percent and 13.0 percent, respectively. Refer  to  Tables 2-B and 4.

• Capacity Utilization in October 2013 is 83.6 percent

Average capacity utilization in October 2013 for total manufacturing was recorded at 83.6 percent. More than 50 percent or eleven of the 20 major sectors registered capacity utilization rates of above 80 percent.  These are:

• petroleum products (88.7%)
• basic metals (87.8%)
• non-metallic mineral products (86.1%)
• machinery except electrical (84.9%)
• food manufacturing (84.5%)
• electrical machinery (84.4%)
• chemical products (83.7%)
• paper and paper products (83.0%)
• rubber and plastic products (82.6%)
• wood and wood products (81.4%)
• publishing and printing (81.2%)

The proportion of establishments that operated at full capacity (90% to 100%) was 23.0 percent in October 2013. About 54.6 percent of the establishments operated at 70% to 89% capacity while 22.4 percent of the establishments operated below 70% capacity. Refer to Table 6.

• Industry Coverage

Starting with January 2013 reference month, the MISSI utilizes the 2009 Philippine Standard Industry Classification (PSIC) to classify sectors and industries. Twenty industry classes of the 2009 PSIC were grouped to form the industry coverage of the 2013 MISSI. These are presented in the table below.

Note:  * - Major sectors categorized  into sub-sectors

• Response Rate

The response rates for the October 2013 MISSI and PPS are 80.0 percent and 88.9 percent, respectively.  Refer to Tables 7 and 8.

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Data of non-responding samples were estimated based on previous records and other administrative reports of these establishments.  Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.

(Sgd) CARMELITA N. ERICTA

Administrator