Total Manufacturing |
March 2008 |
February 2008 |
Producer Price Index (2000=100) |
170.2 |
168.9r |
Year-on-Year Growth |
0.8 |
1.0r |
Month-on-Month Growth |
0.8 |
0.5r |
· Producer Price Index registers slower growth
The Producer Price Index (PPI, 2000 = 100) for the manufacturing industry increased at a slower rate of 0.8 percent in March compared to its year-ago figure, according to the preliminary results of the monthly Producer Price Survey. Among the major sectors, petroleum products and basic metals posted the highest producer price increases with two-digit growth of 23.0 percent and 16.6 percent, respectively, while eleven (11) major sectors posted single-digit increases led by publishing and printing . On the other hand, sectors that reported two-digit decreases in producer price were observed in miscellaneous manufactures and furnitures and fixtures. Refer to Tables 2 and 1-A.
On a month-on-month basis, PPI registered a growth of 0.8 percent growth in March 2008. This was brought about by the producer price increases exhibited by twelve major sectors.Refer to Tables 2 and 1-B.
· Response Rate
The response rate for March 2008 is 86.7 percent, which corresponds to the retrieval of 268 sample establishments reports. Refer to Table 2.
Response Rates for Total Manufacturing
(In percent)
March 2008 |
February 2008 |
86.7 |
96.4 |
· 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 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 Chemical and Industrial Gases, Fertilizers, Paints, Drugs and Medicines, Cosmetics and Toilet Preparations and Miscellaneous Chemicals.
The corresponding weights of the above major 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, FEBRUARY - MARCH 2008
(2000=100)
Gainers |
Year-on-Year Growth (percent) |
|
March 2008 |
February 2008 |
|
|
||
Petroleum Products |
23.0 |
20.7 |
Food Manufacturing |
7.8 |
7.0 |
Basic Metals |
16.6 |
23.0 |
Rubber Products and Plastic Products* |
4.8 |
3.1 |
Chemical Products |
1.2 |
1.0 |
Publishing and Printing |
9.7 |
9.7 |
Non-Metallic Mineral Products |
1.5 |
1.8 |
Fabricated Metal Products |
1.6 |
1.9 |
Leather Products |
3.8 |
3.5 |
Wood and Wood Products |
2.9 |
2.8 |
Textiles |
1.4 |
2.4 |
Tobacco |
0.7 |
0.7 |
Transport Equipment |
0.1 |
-0.3 |
|
||
Losers |
Year-on-Year Growth (percent) |
|
March 2008 |
February 2008 |
|
|
||
Electrical Machinery |
-4.9 |
-3.8 |
Machinery Excluding Electrical |
-6.6 |
-7.4 |
Miscellaneous Manufactures |
-17.2 |
-16.5 |
Furniture and Fixtures |
-10.8 |
-12.9 |
Footwear and Wearing Apparel |
-2.7 |
0.6 |
Paper and Paper Products |
-1.8 |
-0.7 |
Beverages |
-0.1 |
0.6 |
TABLE 1-B. PRODUCER PRICE INDEX, FEBRUARY - MARCH 2008
(2000=100)
Gainers |
Month-on-Month Growth (percent) |
|
March 2008 |
February 2008 |
|
Petroleum Products |
5.1 |
-0.2 |
Food Manufacturing |
1.0 |
0.9 |
Machinery Excluding Electrical |
1.2 |
-0.5 |
Chemical Products |
0.8 |
-0.7 |
Furniture and Fixtures |
3.4 |
-1.4 |
Rubber Products and Plastic Products* |
1.5 |
0.4 |
Beverages |
1.0 |
-1.1 |
Non-metallic Mineral Products |
0.8 |
0.2 |
Textiles |
1.2 |
-0.6 |
Footwear and Wearing Apparel |
0.3 |
0.3 |
Paper and Paper Products |
0.2 |
0.7 |
Leather Products |
0.3 |
0.5 |
Transport Equipment |
0.0 |
2.8 |
Publishing and Printing |
0.0 |
2.9 |
Tobacco |
0.0 |
0.0 |
Wood and Wood Products |
0.0 |
-0.1 |
|
||
Losers |
Month-on-Month Growth (percent) |
|
March 2008 |
February 2008 |
|
|
||
Electrical Machinery |
-0.5 |
0.7 |
Basic Metals |
-0.3 |
1.6 |
Miscellaneous Manufactures |
-0.5 |
3.2 |
Fabricated Metal Products |
-0.3 |
2.7 |
Note:
-* new sector in the 2000-based series
Sectors are ranked according to their contribution to the overall 2000-based March 2008 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