r - revised

• Value of Production Index slides in September 2017

The Value of Production Index (VaPI) for manufacturing went down as it posted an annual decrement of 4.3 percent in September 2017 compared with the previous year’s growth of 5.9 percent, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). The decline in VaPI was mainly influenced by the decreases noted in eight major sectors, offsetting the increases reported by 12 major sectors. Six major sectors that registered two-digit decreases in VaPI were as follows: chemical products (-59.3%), textiles (-43.9%), footwear and wearing apparel (-25.1%), tobacco products (-23.3%), rubber and plastic products (-15.5%) and transport  equipment  (-11.7%). Refer to Tables1-A and 1.

• Volume of Production Index decreases at a slower pace

The Volume of Production Index (VoPI) on a year-on-year basis decelerated at a slow rate of 3.7 percent in September 2017. Of the nine major sectors that exhibited decreases in VoPI, six sectors significantly contributed to the decline, namely: chemical products (-57.9%), textiles (-44.3%), footwear and wearing apparel (-25.1%), tobacco products (-24.4%), miscellaneous manufactures (-10.6%) and rubber and plastic products(-10.5%). Refer to Tables 1-B and 2.

• Value of Net Sales Index weakens

The Value of Net Sales Index (VaNSI) depicted an annual drop of 4.9 percent in September 2017 compared with the positive growth of 6.7 percent during the same month of the previous year. This was attributed to the decreases in VaNSI as observed in five major sectors led by chemical products (-60.2%), outpacing the increments of 15 major sectors. Two other major sectors that contributed to the shortfall in VaNSI were  wood and wood products (-13.7%) and miscellaneous manufactures  (-10.5%). Refer toTables 2-A and 3.

• Volume of Net Sales Index decelerates

The Volume of Net Sales Index (VoNSI) also slid down, recording a decrease of 4.4 percent in September 2017 compared with two-digit growth of 12.1 percent during the same month of the previous year.  The major sectors that significantly contributed to the negative performance of VoNSI were the following: chemical products (-59.3%), wood and wood products (-13.8%) and miscellaneous manufactures (-13.3%). Refer to Tables 2-B and 4.

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

Average capacity utilization rate in September 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 (88.7%)
• non-metallic mineral products (86.6%)
• machinery except electrical (85.6%)
• food manufacturing (84.9%)
• electrical machinery (84.7%)
• chemical products (83.8%)
• paper and paper products (83.5%)
• rubber and plastic products (83.2%)
• wood and wood products (81.4%)
• printing (80.6%)

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 (19.3%) in September 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 September 2017 MISSI and PPS were registered at 78.1 percent and 83.1 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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