r - revised

• Value of Production Index continue to exhibit negative growth in October 2017

The Value of Production Index (VaPI) for manufacturing slipped to 6.3 percent in     October 2017 from a 4.5 percent growth in the same month of the previous year, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was due to the decreases in VaPI observed in six major sectors led by chemical products (-62.2%), outpacing the increments of 14 major sectors. Three other major sectors that contributed to the shortfall in VaPI were  tobacco products (-38.4%), footwear and wearing apparel (-28.8%) and textiles (-27.8%). Refer to Tables1-A and 1.

• Volume of Production Index decelerates

The Volume of Production Index (VoPI) depicted an annual drop of 6.5 percent in  October 2017 compared to the positive growth of 9.9 percent during the same month of the previous year. Chemical products contributed significantly to the decrease at      61.0 percent. This was followed by four other major sectors registering two-digit decline in VoPI, namely: tobacco products (-39.4%), textiles (-28.3%), footwear and wearing apparel (-27.5%) and paper and paper products(-18.9%). Refer to Tables 1-B and 2.

• Value of Net Sales Index registers two-digit decline

The Value of Net Sales Index (VaNSI) went down as it posted two-digit decrement of  10.5 percent in October 2017 compared with the previous year’s growth of 6.1 percent. The decline can be accounted for by the significant decrease in VaNSI for chemical products (-59.8%) and three other major sectors including footwear and wearing apparel (-21.4%), wood and wood products (-14.0%) and transport  equipment (-1.6%). Refer toTables 2-A and 3.

• Volume of Net Sales Index records shrinks

The Volume of Net Sales Index (VoNSI) decreased by negative 10.8 percent in October 2017 compared with 11.5 percent growth registered in October 2016. The decline in VoNSI was mainly influenced by the decreases noted in four major sectors, offsetting the increases reported by 16 major sectors. Three major sectors that registered two-digit decreases in VoNSI were as follows: chemical products (-59.0%), footwear and wearing apparel (-20.3%) and wood and wood products (-13.5%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in October 2017 is 83.8 percent with petroleum products posting the highest among industries

Average capacity utilization rate in October 2017 for total manufacturing was recorded at  83.8 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These are:

• petroleum products (88.8%)
• basic metals (88.6%)
• non-metallic mineral products (86.6%)
• machinery except electrical (85.8%)
• food manufacturing (85.0%)
• electrical machinery (84.6%)
• chemical products (83.8%)
• paper and paper products (83.6%)
• rubber and plastic products (83.1%)
• wood and wood products (81.5%)
• printing (80.7%)

The proportion of establishments that operated at full capacity (90% to 100%) was recorded at more than one-fourth of the total number of establishments (26.7%) in October 2017. About 53.9 percent of the total establishments operated at 70 percent to 89 percent capacity while almost one-fifth of the total establishments (19.4%) operated below 70 percent capacity.Refer to Table B and 6.

• Response Rate

The response rates for the October 2017 MISSI and PPS were registered at 82.0 percent and 86.7 percent, respectively.  Refer to Tables 7 and 8.

Data of non-responding samples were estimated using short-term geometric mean of the relative values of responding samples within the industry class. Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.

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