|
Total Manufacturing |
June 2008 |
May 2008 |
|
Producer Price Index (2000=100) |
175.0 |
172.6r |
|
Year-on-Year Growth |
3.5 |
2.3r |
|
Month-on-Month Growth |
1.4 |
1.8r |
· Producer Price Index sustains an upward trend
The Producer Price Index (PPI, 2000=100) for the manufacturing industry went up by 3.5 percent in June 2008, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. This was brought about by the increases reported by fourteen (14) major sectors with double-digit growth exhibited by the following: petroleum products (42.1%), basic metals, (20.6%) and textiles, (12.2%). On the other hand, six (6) major sectors posted year-on-year decreases in producer price led by miscellaneous manufactures (-13.0%). Refer to Tables 2 and 1-A.
On a month-on-month basis, PPI grew by 1.4 percent in June 2008. Price increments were exhibited in fourteen (14) major sectors led by textiles with a 12.4 percent increase. Meanwhile, flat growth was observed in publishing and printing, tobacco products, and wood and wood products. Refer to Tables 2 and 1-B.
· Response Rate
The response rate for June 2008 is 91.6 percent, which corresponds to the retrieval of 283 sample establishments' reports. Refer to Table 3.
Response Rates for Total Manufacturing
(In percent)
|
June 2008 |
May 2008 |
|
91.6 |
95.8r |
· Technical Notes
The 1994 based PPI will be discontinued with the December 2007 data as the last of the series. Only the 2000 based PPI will be continued in 2008.
Starting the February 2008 PPI release, a revised industry disaggregation is adopted to conform with the amended 1994 PSIC. Rubber and Plastic Products is a new major sector, consisting of two sub-sectors, 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) sub-sectors, the major sector of Chemical Products has now six (6) sub-sectors, namely: Basic Chemicals and Industrial Gases, Fertilizers, Paints, Drugs and Medicines, Cosmetics and Toilet Preparations and Miscellaneous Chemicals.
The corresponding weights of the above sectors and sub-sectors have been recomputed to allow for the revised computation of the indices.
Weights for the 2008 PPI are based from the results of the 2005 Annual Survey of Philippine Business and Industry (ASPBI) for manufacturing establishments with average total employment (ATE) 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.
|
|
(Sgd.) CARMELITA N. ERICTA |
TABLE 1-A. PRODUCER PRICE INDEX, MAY - JUNE 2008
(2000=100)
|
Gainers |
Year-on-Year Growth (percent) |
|
|
June 2008 |
May 2008 |
|
|
|
||
|
Petroleum Products |
42.1 |
35.6 |
|
Food Manufacturing |
8.7 |
8.7 |
|
Basic Metals |
20.6 |
17.8 |
|
Chemical Products (excludes Plastic Products) |
2.9 |
5.5 |
|
Textiles |
12.2 |
0.2 |
|
Rubber and Plastic Products* |
7.2 |
5.0 |
|
Machinery Except Electrical |
1.2 |
-1.4 |
|
Beverages |
3.3 |
3.3 |
|
Publishing and Printing |
9.7 |
9.7 |
|
Paper and Paper Products |
1.5 |
-0.4 |
|
Wood and Wood Products |
3.3 |
2.7 |
|
Tobacco Products |
0.7 |
0.7 |
|
Leather Products |
2.2 |
4.7 |
|
|
||
|
Losers |
Year-on-Year Growth (percent) |
|
|
June 2008 |
May 2008 |
|
|
|
||
|
Electrical Machinery |
-4.4 |
-6.8 |
|
Miscellaneous Manufactures |
-13.0 |
-12.1 |
|
Non-Metallic Mineral Products |
-2.5 |
-1.7 |
|
Footwear and Wearing Apparel |
-1.7 |
-1.1 |
|
Furniture and Fixtures |
-2.9 |
-5.6 |
|
Fabricated Metal Products |
-0.7 |
0.3 |
|
Transport Equipment |
-1.4 |
-2.2 |
TABLE 1-B. PRODUCER PRICE INDEX, MAY - JUNE 2008
(2000=100)
|
Gainers |
Month-on-Month Growth (percent) |
|
|
June 2008 |
May 2008 |
|
|
Petroleum Products |
6.7 |
12.8 |
|
Electrical Machinery |
1.1 |
1.4 |
|
Machinery Except Electrical |
2.0 |
2.0 |
|
Textiles |
12.4 |
0.1 |
|
Food Manufacturing |
0.8 |
0.7 |
|
Basic Metals |
2.5 |
0.4 |
|
Transport Equipment |
1.8 |
-0.5 |
|
Fabricated Metal Products |
1.1 |
0.0 |
|
Rubber and Plastic Products* |
0.9 |
0.5 |
|
Furniture and Fixtures |
1.8 |
3.4 |
|
Paper and Paper Products |
0.6 |
0.3 |
|
Leather Products |
0.9 |
2.5 |
|
Footwear and Wearing Apparel |
0.1 |
0.1 |
|
Non-Metallic Mineral Products |
0.0 |
0.0 |
|
Beverages |
0.0 |
1.1 |
|
Publishing and Printing |
0.0 |
0.0 |
|
Tobacco Products |
0.0 |
0.0 |
|
Wood and Wood Products |
0.0 |
0.0 |
|
|
||
|
Losers |
Month-on-Month Growth (percent) |
|
|
June 2008 |
May 2008 |
|
|
|
||
|
Chemical Products (excludes Plastic Products) |
-1.4 |
1.1 |
|
Miscellaneous Manufactures |
-1.8 |
1.4 |
Notes:
* - new sector in the 2000-based series
Sectors are ranked according to their contribution to the overall 2000-based 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
Source: National Statistics Office
Manila, Philippines
