r - revised

• Value of Production Index exhibits negative rate in September 2015

Value of Production Index (VaPI) for total manufacturing dropped by 4.8 percent in September 2015 compared with a year ago growth of 5.5 percent, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was attributed to the decreases in VaPI observed in  nine major sectors led by furniture and fixtures (-39.1%), outpacing the increments in 11 major sectors. Five other major sectors that largely contributed to the decrease in VaPI were wood and wood products (-30.1%), printing (-25.6%), petroleum products (-24.8%), basic metals   (-18.0%) and food manufacturing (-17.9%). Refer to Tables 1-A and 1.

• Volume of Production sustains growth

Volume of Production Index (VoPI) grew at a slower rate of 3.5 percent in September 2015 compared with 4.7 percent in September 2014. The increases in 12 major sectors pulled up the VoPI. Seven major sectors exhibiting two-digit growth in VoPI were the following: tobacco products (35.0%), electrical machinery (21.4%), footwear and wearing apparel (13.5%), machinery except electrical (12.8%), textiles (12.6%), transport equipment (11.8%) and miscellaneous manufactures (11.1%). Refer to Tables 1-B   and 2.

• Value of Net Sales Index contracts

Value of Net Sales Index (VaNSI) on a year-on-year comparison dropped by 8.4 percent in September 2015 compared with positive growth of 3.4 percent during the same month of last year. This was mainly influenced by the decrements noted in seven major sectors, offsetting the increases reported by 13 major sectors. Six major sectors that registered two-digit decreases in VaNSI were as follows: printing (-56.1%), petroleum products (-27.9%), furniture and fixtures (-19.2%), basic metals (-16.7%), chemical products (-14.7%) and food manufacturing (-11.7%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index still decelerates at a slower rate

Volume of Net Sales Index (VoNSI) also slid down, recording a minimal decrease of 0.4 percent in September 2015. Major sectors that significantly contributed to the negative performance of VoNSI were the following: printing (-55.4%), chemical products (-15.9%) and food manufacturing (-12.1%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in September 2015 is 83.4 percent

Average capacity utilization rate in September 2015 for total manufacturing was recorded at 83.4 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These were:

• basic metals (88.4%)
• petroleum products (88.3%)
• non-metallic mineral products (86.2%)
• machinery except electrical (85.1%)
• electrical machinery (84.5%)
• food manufacturing (84.2%)
• chemical products (83.7%)
• paper and paper products (83.2%)
• rubber and plastic products (82.5%)
• wood and wood products (80.9%)
• printing (80.0%)

The proportion of establishments that operated at full capacity (90% to 100%) was 25.6 percent in September 2015. About 55.9 percent of the establishments operated at 70 percent to 89 percent capacity while 18.5 percent of the establishments operated below 70 percent capacity. Refer to Table 6 and B.

• Industry Coverage

The 2015 MISSI utilizes the 2009 PSIC to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were formed to comprise the industry coverage of the 2015 MISSI. These are presented in the table below.

• Response Rate

The response rates for the September 2015 MISSI and PPS are 78.1 percent and 85.4 percent, respectively.  Refer to Tables 7 and 8.

                                                   r - revised

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.

TABLE 1-A Value of Production Index, August 2015 and September 2015

   (2000 =100)

             Notes:                

TABLE 1-B  Volume of Production Index, August 2015 and September 2015

(2000 = 100)

            Notes:                

TABLE 2-A  Value of Net Sales Index, August 2015 and September 2015

(2000 =100)

            Notes:                

TABLE 2-B  Volume of Net Sales Index, August 2015 and September 2015

(2000 = 100)

             Notes: