r-revised
           a/ - Less than 0.1 percent increase

·  Value of Production registers two-digit growth in September 2008

Value of Production Index (VaPI) for the manufacturing industry climbed to 19.7 percent in September 2008 compared with the year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This maybe attributed to the two-digit growth in the following sectors lead by petroleum products (94.0%), namely: fabricated metal products, beverages, food manufacturing, tobacco products, non-metallic mineral products, basic metals, and rubber and plastic products. Refer to Tables 1-A and 1.

On a monthly comparison, VaPI increased by 6.9 percent from a drop of 2.8 percent in August 2008. Significant expansions in production were noted in the following major sectors: petroleum products, beverages, chemical products (excluding plastic products), machinery except electrical, and paper and paper products. Refer to Tables 1-A and 1.

·  Volume of Production increases in September 2008

Volume of Production Index (VoPI), on a year-on-year basis, posted a two-digit increment of 12.5 percent in September 2008. This was brought about by the improved factory output performance of the following major sectors: petroleum products, fabricated metal products, beverages, tobacco products, food manufacturing, and non-metallic mineral products. Refer to Tables 1-B and 2.

Also, VoPI rose by 6.4 percent on a month-on-month basis in September 2008. This was due to the increases in production output observed in twelve sectors with two-digit growth in the following: petroleum products, beverages, chemical products (excluding plastic products), machinery except electrical, and paper and paper products. Refer to Tables 1-B and 2.

·  Value of Net Sales grows at a slower rate in September 2008

Value of Net Sales Index (VaNSI), likewise, grew by 5.4 percent in September 2008. Twelve major sectors contributed to the growth with two-digit increases observed in the following: petroleum products, fabricated metal products, non-metallic mineral products, tobacco products, and rubber and plastic products. Refer to Tables 2-A and 3.

However, VaNSI on a month-on-month basis, decreased at a slower rate of 0.5 percent in September 2008. Seven major sectors reported decreases in sales. Refer to Tables 2-A and 3.

·  Volume of Net Sales posts flat growth in September 2008

Volume of Net Sales Index (VoNSI), on a year-on-year basis, remained flat in September 2008 . Six major sectors reported increases, with two-digit increments observed in the following: fabricated metal products, petroleum products, tobacco products, and non-metallic mineral products. Fourteen major sectors posted declines, with two-digit decreases observed in the following: machinery except electrical, textiles, wood and wood products, furniture and fixtures, footwear and wearing apparel, basic metals, and electrical machinery. Refer to Tables 2-B and 4.

On a monthly basis, VoNSI dropped at a slower rate of 1.0 percent in September 2008. Only two major sectors exhibited two-digit growth in sales volume, namely: beverages, and paper and paper products. Refer to Tables 2-B and 4.

·  Capacity Utilization

Average capacity utilization in September 2008 for total manufacturing was estimated at 81.6 percent. Ten major sectors that registered capacity utilization rates of 80% and more were the following: petroleum products, basic metals, food manufacturing, leather products, paper and paper products, miscellaneous manufactures, electrical machinery, chemical products (excluding plastic 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 10.8 percent in September 2008. More than half or 60.5 percent of the establishments operated at 70% to 89% capacity while 28.7 percent of the establishments operated below 70% capacity.

·  Response Rates

The response rates for the September 2008 MISSI and PPS are 93.4 percent and 96.4 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 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 September 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

b/ - Less than 0.1 percent increase

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