Table A Year-on-Year and Month-on-Month Growth Rates of Producer Price Index
for Total Manufacturing
March 2020, February 2020 and March 2019
|
|||
---|---|---|---|
Category |
March
2020
|
February
2020
|
March
2019
|
Producer Price Index (2000=100) |
132.0 |
132.3 r |
139.6 |
Year-on-Year Growth (%) |
-5.4 |
-4.8 r |
4.8 |
Month-on-Month Growth (%) |
-0.2 |
0.2 r |
0.5 |
Year-on-Year
The Producer Price Index (PPI, 2000=100) for manufacturing continued to descend at an annual rate of 5.4 percent in March 2020. This rate of decrease is faster than the downward trend of 4.8 percent in February 2020. In March of the previous year, PPI increased at an annual rate of 4.8 percent.
The decline in the PPI in March 2020 can be attributed to the decreases in the indices of 15 major industry groups, with four major industry groups posting double-digit decrements namely:
• leather products (-14.8%),
• transport equipment (-12.4%),
• wood and wood products (-11.9%), and
• fabricated metal products (-10.4%).
On the other hand, furniture and fixtures, which climbed by 20.2 percent, led the five major industry groups that posted annual increases. (Tables 1 and A-1).
Month-on-Month
Month-on-month, the PPI posted a slight decrement of 0.2 percent in March 2020, after a 0.2 percent increment in the previous month. In March 2019, the PPI grew by 0.5 percent.
Eleven of the 20 major industry groups posted negative monthly growth rates in March 2020 which was led by petroleum products with a monthly rate of –6.5 percent. Furthermore, PPI for six major industry groups posted monthly increments while indices for three major industry groups remained the same (Tables 1 and A-2).
MAJOR INDUSTRY GROUP |
||
March 2020 |
February 2020
|
|
Gainers |
|
|
Tobacco Products |
4.8 |
4.8 |
Beverages |
2.9 |
2.8r |
Furniture & Fixtures |
20.2 |
20.1 |
Food Manufacturing |
0.3 |
-0.5r |
Printing |
1.8 |
1.8 |
Losers |
|
|
Transport Equipment |
-12.4 |
-11.3 |
Electrical Machinery |
-5.4 |
-3.3r |
Petroleum Products |
-9.5 |
0.8r |
Chemical Products |
-7.9 |
-10.0r |
Basic Metals |
-7.2 |
-5.0r |
Fabricated Metal Products |
-10.4 |
-10.2r |
Machinery Except Electrical |
-2.8 |
-3.4r |
Non-Metallic Mineral Products |
-3.6 |
-3.2r |
Footwear & Wearing Apparel |
-9.7 |
-10.3r |
Wood & Wood Products |
-11.9 |
-9.8r |
Rubber & Plastic Products |
-2.3 |
-2.8 |
Paper & Paper Products |
-3.8 |
-3.8r |
Leather Products |
-14.8 |
-14.4 |
Textiles |
-6.4 |
-4.6r |
Miscellaneous Manufactures |
-1.8 |
-1.6r |
MAJOR INDUSTRY GROUP |
||
March 2020 |
February 2020
|
|
Gainers |
|
|
Food Manufacturing |
0.7 |
0.4r |
Chemical Products |
1.4 |
-0.5r |
Footwear & Wearing Apparel |
0.8 |
1.5r |
Paper & Paper Products |
0.3 |
-0.8r |
Beverages |
0.1 |
0.3r |
Leather Products |
0.1 |
-1.4 |
Tobacco Products |
0.0 |
4.4 |
Furniture & Fixtures |
0.0 |
0.2 |
Printing |
0.0 |
0.0 |
Losers |
|
|
Petroleum Products |
-6.5 |
-1.7r |
Electrical Machinery |
-0.6 |
1.9r |
Basic Metals |
-0.6 |
-1.7r |
Transport Equipment |
-0.2 |
-0.9 |
Machinery Except Electrical |
-0.3 |
-0.9r |
Non-Metallic Mineral Products |
-0.4 |
-0.1r |
Textiles |
-0.6 |
0.9r |
Fabricated Metal Products |
-0.1 |
3.7r |
Rubber & Plastic Products |
b/ |
0.3 |
Wood & Wood Products |
b/ |
-1.6r |
Miscellaneous Manufactures |
b/ |
-0.7r |
(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.