|
Table A Year-on-Year and Month-on-Month Growth Rates of Producer Price Index
for Total Manufacturing
February 2020, January 2020 and February 2019
|
|||
|---|---|---|---|
|
Category |
February
2020
|
January
2020
|
February
2019
|
|
Producer Price Index (2000=100) |
132.2 |
132.3 r |
138.9 |
|
Year-on-Year Growth (%) |
-4.8 |
-5.2 r |
3.4 |
|
Month-on-Month Growth (%) |
-0.1 |
-0.1 r |
-0.5 |
Year-on-Year
The Producer Price Index (PPI, 2000=100) for manufacturing continued to decline at an annual rate of 4.8 percent in February 2020. In January 2020, the downward trend was faster at 5.2 percent. On the contrary, the PPI in February of the previous year increased at an annual rate of 3.4 percent.
The decline in the PPI in February 2020 can be attributed to the decreases in the indices of 15 major industry groups, with three major industry groups posting double-digit decrements as follows:
• leather products (-14.6%),
• fabricated metal products (-13.4%), and
• transport equipment (-11.1%).
On the other hand, five major industry groups had indices that rose in February 2020 with furniture and fixtures having the highest annual growth of 20.0 percent. (Tables 1 and A-1)
Month-on-Month
Month-on-month, the PPI posted a slight decrement of 0.1 percent in February 2020, the same rate of decline recorded in January 2020. In February of the previous year, the PPI dropped at a faster monthly rate of 0.5 percent.
Ten of the major industry groups posted negative monthly growth rates in February 2020 which was led by basic metals with monthly rate of -1.8 percent. Moreover, PPI for seven major industry groups posted monthly increments while indices for three major industry groups remained the same.(Tables 1 and A-2)
|
MAJOR INDUSTRY GROUP |
||
| February 2020 |
January 2020
|
|
|
Gainers |
|
|
|
Petroleum Products |
2.6 |
-1.5r |
|
Tobacco Products |
4.8 |
7.5 |
|
Beverages |
2.6 |
3.6r |
|
Furniture & Fixtures |
20.0 |
18.8r |
|
Printing |
1.8 |
1.8r |
|
Losers |
|
|
|
Transport Equipment |
-11.1 |
-9.9r |
|
Electrical Machinery |
-4.1 |
-5.6r |
|
Chemical Products |
-9.1 |
-8.0r |
|
Fabricated Metal Products |
-13.4 |
-13.8 |
|
Machinery Except Electrical |
-4.1 |
-6.2r |
|
Basic Metals |
-2.3 |
-2.2r |
|
Footwear & Wearing Apparel |
-8.7 |
-10.3r |
|
Rubber & Plastic Products |
-2.7 |
-2.9r |
|
Non-Metallic Mineral Products |
-2.6 |
-1.2r |
|
Food Manufacturing |
-0.4 |
-1.2r |
|
Wood & Wood Products |
-8.6 |
-10.7r |
|
Paper & Paper Products |
-3.9 |
-3.5 |
|
Leather Products |
-14.6 |
-13.1r |
|
Textiles |
-5.2 |
-5.3r |
|
Miscellaneous Manufactures |
-1.6 |
-1.1r |
|
MAJOR INDUSTRY GROUP |
||
| February 2020 |
January 2020
|
|
|
Gainers |
|
|
|
Electrical Machinery |
1.1 |
b/r |
|
Tobacco Products |
4.3 |
0.4 |
|
Food Manufacturing |
0.4 |
0.2r |
|
Rubber & Plastic Products |
0.4 |
-1.7r |
|
Footwear & Wearing Apparel |
0.7 |
0.1r |
|
Petroleum Products |
a/ |
1.9r |
| Furniture & Fixtures |
a/ |
24.4r |
|
Beverages |
0.0 |
1.2r |
|
Printing |
0.0 |
1.8r |
|
Fabricated Metal Products |
0.0 |
b/ |
|
Losers |
|
|
|
Machinery Except Electrical |
-1.7 |
0.2r |
|
Transport Equipment |
-0.7 |
-0.7r |
|
Basic Metals |
-1.8 |
2.6r |
|
Paper & Paper Products |
-0.8 |
-0.5 |
|
Chemical Products |
-0.2 |
-2.5r |
|
Miscellaneous Manufactures |
-0.7 |
1.3r |
|
Leather Products |
-1.7 |
7.4r |
|
Non-Metallic Mineral Products |
-0.1 |
0.2r |
|
Wood & Wood Products |
-0.2 |
-0.9r |
|
Textiles |
-0.3 |
0.5 |
(Sgd.) CLAIRE DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
- Introduction
- Method of Index Computation
Note:
Starting with January 2017 PPI, a link factor has been used to adjust weight effects to measure the correct price change.
- Computation of Growth Rates
Year-on-year growth rates are computed by dividing the current month index by the index in the same month of the previous year less 1.
Month-on-month growth rates are computed by dividing the current month index by the previous month’s index less 1.
- Imputation and Revision
Imputation is done for sample establishments that are in operation during the reference period but no received response during the release date. Results are revised accordingly when the actual data are received and these revisions are reflected in the next release.
- Industry Coverage
Starting with the January 2013 reference month, the PPI utilizes the 2009 Philippine Standard Industrial Classification (PSIC) to classify sectors and industries. Selected industry classes of the 2009 PSIC were grouped to form the 20 major industry groupings of the 2020 PPS. These are presented in the table below.
|
2009 PSIC CODE |
INDUSTRY DESCRIPTION |
|---|---|
|
C10 |
Food manufacturing * |
|
C11 |
Beverages |
|
C12 |
Tobacco products |
|
C13 |
Textiles* |
|
C14, C152 |
Footwear and wearing apparel |
|
C151 |
Leather products |
|
C16 |
Wood and wood products* |
|
C17 |
Paper and paper products |
|
C18 |
Printing |
|
C19 |
Petroleum products* |
|
C20, C21 |
Chemical products* |
|
C22 |
Rubber and plastic products* |
|
C23 |
Non-metallic mineral products* |
|
C24 |
Basic Metals* |
|
C25 |
Fabricated metal products |
|
C262, C275, C28, C263, C268 |
Machinery except electrical* |
|
C261, C264, C27, C29301 |
Electrical machinery* |
|
C29 except C29301, C30 |
Transport equipment |
|
C31 |
Furniture and fixtures |
|
C265, C266, C267, C32 |
Miscellaneous manufactures |
* - Major industry groups categorized into industry sub-classes
See more at the Producer Price Survey (PPS) main page.
