Table A Year-on-Year and Month-on-Month Growth Rates of Producer Price Index: June 2013 and May 2013 |
||
---|---|---|
TOTAL MANUFACTURING |
June
2013
|
May
2013
|
Producer Price Index (2000=100) |
152.9 |
152.9 |
Year-on-Year Growth |
-7.6 |
-9.1 r |
Month-on-Month Growth |
0.0 |
0.3 |
r - revised
- Producer Price Index declines at a slower rate
Producer Price Index (PPI, 2000=100) for manufacturing continued to decelerate at a slower rate of negative 7.6 percent in June 2013 from negative 9.1 percent in May 2013, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. Significant slowdowns reflected by three major sectors contributed to the downtrend. These were the following: furniture and fixtures (-46.3%), rubber and plastic products (-13.4%), and basic metals (-12.1%). On the other hand, petroleum products, with an uptick of 11.7 percent led the nine sectors that posted increases. Refer to Tables 1 and A-1.
On a month-on-month basis, PPI remained at its previous month’s index of 152.9 resulting in a flat growth. The increases recorded by fourteen sectors led by petroleum products (3.7%) did not bring a significant change in the PPI. Six major sectors reflected flat growths while the other five sectors posted decrements. Refer to Tables 1 and A-2
TABLE A-1 Producer Price Index, May 2013 – June 2013
(2000 =100)
Gainers |
Year-on-Year Growth (percent) |
|
---|---|---|
June 2013 |
May 2013
(revised)
|
|
Petroleum Products |
11.7 |
-1.2 |
Beverages |
5.4 |
5.4 |
Footwear and Wearing Apparel |
4.1 |
5.6 |
Non-Metallic Mineral Products |
2.8 |
0.0 |
Printing |
9.0 |
9.0 |
Miscellaneous Manufactures |
0.9 |
1.7 |
Wood & Wood Products |
2.0 |
0.8 |
Leather Products |
1.2 |
1.1 |
Textiles |
0.0 |
-0.3 |
Losers |
Year-on-Year Growth (percent) |
|
---|---|---|
June 2013 |
May 2013
(revised)
|
|
Electrical Machinery |
-6.2 |
-7.4 |
Food Manufacturing |
-9.4 |
-10.4 |
Machinery Except Electrical |
-9.0 |
-12.6 |
Basic Metals |
-12.1 |
-13.1 |
Transport Equipment |
-7.9 |
-9.2 |
Rubber and Plastic Products |
-13.4 |
-15.0 |
Furniture and Fixtures |
-46.3 |
-37.7 |
Chemical Products |
-4.3 |
-5.2 |
Tobacco Products |
-7.1 |
-7.1 |
Paper and Paper Products |
-5.0 |
-7.5 |
Fabricated Metal Products |
-0.4 |
0.4 |
TABLE A-2 Producer Price Index, May 2013 – June 2013
(2000 = 100)
Gainers |
Month-on-Month Growth (percent) |
|
---|---|---|
June 2013 |
May 2013
(revised)
|
|
Petroleum Products |
3.7 |
1.7 |
Food Manufacturing |
0.5 |
0.3 |
Transport Equipment |
0.8 |
0.7 |
Non-Metallic Mineral Products |
1.4 |
0.1 |
Rubber and Plastic Products |
0.8 |
0.2 |
Chemical Products |
0.3 |
0.7 |
Wood & Wood Products |
1.0 |
0.0 |
Leather Products |
0.1 |
0.2 |
Textiles |
0.0 |
0.0 |
Beverages |
0.0 |
-0.3 |
Printing |
0.0 |
0.0 |
Tobacco |
0.0 |
0.0 |
Paper and Paper Products |
0.0 |
-1.2 |
Fabricated Metal Products |
0.0 |
-0.2 |
Losers |
Month-on-Month Growth (percent) |
|
---|---|---|
June 2013 |
May 2013
(revised)
|
|
Machinery Except Electrical |
-1.4 |
2.4 |
Electrical Machinery |
-0.4 |
1.5 |
Furniture & Fixtures |
-11.9 |
-11.1 |
Footwear and Wearing Apparel |
-1.2 |
-0.2 |
Miscellaneous Manufactures |
-0.6 |
3.4 |
Basic Metals |
-0.1 |
-1.6 |
Note:
Technical Notes
- Introduction
The National Statistics Office generates various price indices, one of these is the Producer Price Index (PPI). The PPI, a designated statistics, is generated through the results of the Producer Price Survey (PPS) conducted nationwide. The survey gathers monthly producer prices of selected products of establishments included in the market basket.
The PPI is used as a deflator of the Monthly Integrated Survey of Selected Industries (MISSI) to derive indicators for the Volume of Production Index (VoPI) and Volume of Net Sales (VoNSI).
- Method of Index Computation
PPI utilizes the Paasche-type method of index computation. The weights are computed from the value of production to derive concentration ratios from the Census of Philippine Business and Industry (CPBI) or Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI or CPBI are available and applied at the beginning of each survey year.
For the 2013 PPI, the weights of the major sectors and sub-sectors were computed from the results of the 2010 ASPBI for Manufacturing Establishments with total employment of 20 and over, which is the latest survey results.
The formulas in the computation of the PPI are as follows:
- Industry Coverage
Starting with January 2013 reference month, the PPI utilizes the 2009 Philippine Standard Industry Classification to classify sectors and industries. There are 20 major sectors covered by the 2013 PPS with three consisting of subsectors.
2009 PSIC CODE |
INDUSTRY DESCRIPTION |
---|---|
10 |
Food manufacturing |
11 |
Beverages |
12 |
Tobacco products |
13 |
Textiles |
14,152 |
Footwear and wearing apparel |
151 |
Leather products |
16 |
Wood and wood products |
17 |
Paper and paper products |
18 |
Printing and reproduction of recorded media |
19 |
Petroleum products |
20 |
Chemical products |
22 |
Rubber and plastic products* |
23 |
Non-metallic mineral products* |
24 |
Basic metals* |
25 |
Fabricated metal products |
275, 28, 263,268 |
Machinery except electrical |
26120 and 27 |
Electrical machinery |
29,30 |
Transport equipment |
31 |
Furniture and fixtures |
265,266,267,32 |
Miscellaneous manufactures |
Note: * - Major sectors categorized into sub-sectors |
- Response Rate
The response rate for June 2013 is 90.3 percent, which corresponds to the retrieval of 317 establishments’ reports out of the 351 samples for the survey. Refer to Table 2.
Table B Response Rates For Total Manufacturing (In Percent) |
|
---|---|
June 2013 |
May 2013 (revised) |
90.3 |
96.6r |
Missing prices for products of sample establishments are estimated using the short-term relative change of all available prices within the same industry class. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.
(Sgd) CARMELITA N. ERICTA
Administrator