r -revised

·  Value of Production Index (VaPI) surges

The Value of Production Index (VaPI) for the manufacturing industry on a year-on-year basis registered a double-digit increase of 13.9 percent in September 2004 from a single digit increase since April 2004, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was brought about by the significant increases posted by the following sectors: rubber products, electrical machinery, paper and paper products, non-metallic mineral products, furniture and fixtures, food manufacturing, publishing and printing, leather products, chemical products, footwear and wearing apparel, transport equipment and beverage. Refer to Tables 1-A and 1.

Likewise, VaPI on a month-on-month basis went up by 10.3 percent in September 2004. Sectors that significantly contributed to the increase were footwear and wearing apparel, electrical machinery, petroleum products, beverage, non-metallic mineral products and paper and paper products. Refer to Tables 1-A and 1.

·  Volume of Production Index (VoPI) bounces

Volume of Production Index (VoPI) made a turnaround and registered an increase of 7.2 percent in September 2004 compared to a year ago figure. Significant increases were observed in the following sectors: electrical machinery, rubber products, paper and paper products, furniture and fixtures, publishing and printing, beverage, leather products and non-metallic mineral products. Refer to Tables 1-B and 2.

Similarly, VoPI on a month-on-month basis posted an increment of 9.6 percent in September 2004. Sectors that exhibited double-digit increases were the following: footwear and wearing apparel, electrical machinery, beverage, petroleum products, paper and paper products and non-metallic mineral products. Refer to Tables 1-B and 2.

·  Value of Net Sales continues to post increments

On a year-on-year basis, Value of Net Sales increased by 12.1 percent in September 2004 brought about by significant increases in 12 sectors. These were the following: leather products, rubber products, basic metals, wood and wood products, non-metallic mineral products, food manufacturing, transport equipment, furniture and fixtures, paper and paper products, petroleum products, chemical products and textile. Refer to Tables 2-A and 3.

Furthermore, Value of Net Sales On a month-on-month basis posted an increase of 8.2 percent in September 2004. Sectors with double-digit increases were tobacco, beverage, electrical machinery, furniture and fixtures and non-metallic mineral products. Refer to Tables 2-A and 3.

·  Volume of Net Sales continues to exhibit negative trend

Volume of Net Sales, on a year-on-year basis, fell by 1.1 percent in September 2004. Sectors that registered double-digit decreases were the following: footwear and wearing apparel, machinery excluding electrical, miscellaneous manufactures, petroleum products, publishing and printing, tobacco and fabricated metals. Refer to Tables 2-B and 4.

However, on a month-on-month basis Volume of Net Sales registered a 7.2 percent increase in September 2004. Double-digit increases were registered by the following sectors: tobacco, beverage, electrical machinery, and furniture and fixtures. Refer to Tables 2-B and 4.

·  Producer�s Price Index (PPI) continues to increase but slower

The Producer�s Price Index (PPI) for total manufacturing on a year-on-year basis registered an increase of 6.3 percent in September 2004. Sectors that significantly contributed to the increment were the following: footwear and wearing apparel, petroleum products, basic metals, tobacco, food manufacturing, non-metallic mineral products, fabricated metal products, chemical products and textile. Refer to Table 5..

Moreover, PPI on a month-on-month comparison slightly went up by 0.7 percent in September 2004. Sectors that posted significant increases were the following: petroleum products, fabricated metal products, basic metals, non-metallic mineral products, electrical machinery, food manufacturing, textile and chemical products. Refer to Table 5.

·  Capacity Utilization

Average capacity utilization in September 2004 for total manufacturing was estimated at 80.0 percent. Sectors that posted more than 80% capacity utilization rates were the following: machinery excluding electrical, electrical machinery, paper and paper products, petroleum products, miscellaneous manufactures, leather products, rubber products, basic metals, chemical products and food manufacturing. Refer to Table 6..

The proportion of establishments that operated at full capacity (90%-100%) in September 2004 was 15.8 percent. More than half or 52.3 percent of the establishments operated at 70%-89% capacity and 31.9 percent of the establishments operated below 70% capacity.

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

·  Response Rate

The response rate for September 2004 is 91.1 percent, which corresponds to the retrieval of 490 sample establishments� reports. Refer to Table 7.

Response Rates for Total Manufacturing
(In percent)

·  Technical Notes

Starting 2004, weights for the Producer�s 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, August - September 2004
(1994 =100)

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

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

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

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

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

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

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

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

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

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

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

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