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Release Date :
Reference Number :
2011-032

Total Manufacturing       March 2011              February 2011       
      Producer Price Index              (2000=100) 166.1 166.1r
            Year-on-Year Growth -0.9 -0.8r
            Month-on-Month Growth -0.01 -0.3r

                                   r-revised

 

  • Producer Price Index continue to decelerate

     

The Producer Price Index (PPI, 2000=100) for the manufacturing industry fell 0.9 percent in March 2011, according to the preliminary results of the monthly Producer Price Survey. This was largely attributed to the double-digit price reduction posted by furniture & fixtures (-20.7%). However, price increases were observed in eleven major sectors led by petroleum products (21.7%). Refer to Tables 1 and 1-B.

On a month-on-month basis, PPI dropped at a slower rate of -0.01 percent in March 2011 from -0.3 percent recorded in February 2011.This can be attributed to the increase in prices of petroleum products (4.6%); electrical machinery (0.1%) and non-metallic mineral products (0.1%). On the other hand, six sectors posted decrements led by furniture and fixtures (-7.2%). Refer to Tables 1 and 1-B.

    • Response Rate

       

The response rate for March 2011 is 88.0 percent, which corresponds to the retrieval of 287 sample establishments? reports. Refer to Table 2.

Response Rates for Total Manufacturing
(In percent)

          March 2011                      February 2011           
(revised)
88.0 92.6r

  • Technical Notes

     

The National Statistics Office generates various price indices, one of this is the Producer Price Index. (PPI). The PPI is generated through the results of the Producers Price Survey (PPS) conducted nationwide. The survey gathers monthly actual producer prices of selected products included in the market basket.

PPI utilizes the Paasche-type method of index computation with weights computed from the production concentration ratio of the Census of Philippine Business and Industry (CPBI)/ Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI/CPBI are available and applied at the beginning of each survey year.

Hence, the weights of the major sectors and sub-sectors for the 2009 PPI were computed from the results of the 2006 CPBI for Manufacturing Establishments of total employment of 20 and over, which is the latest census results.

Moreover, for industry classification, the 2010 PPI utilizes the amended 1994 Philippine Standard Industry Classification. There are 20 major sectors covered by the 2010 PPS with three consisting of subsectors.

Non-responding sample establishments are estimated using cold-deck imputation method. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.

 

                                                                                                           (Sgd.) CARMELITA N. ERICTA
                                                                                                               Administrator


TABLE 1-A. PRODUCER PRICE INDEX, FEBRUARY 2011 - MARCH 2011
(2000=100)

                               Gainers                                    Year-on-Year Growth (percent)         
March 2011 February 2011
(revised)
 

Petroleum Products

21.7

16.1

Food Manufacturing

7.1

7.6

Rubber and Plastic Products*

5.0

6.9

Fabricated Metal Products

6.5

5.7

Tobacco Products

4.8

4.8

Textiles

9.8

9.4

Transport Equipment

1.4

2.4

Wood and Wood Products

9.6

9.6

Leather Products

5.4

8.7

Non-Metallic Mineral Products

0.7

1.4

Basic Metals

7.5

5.8

Publishing and Printing

0.0

0.0

 
Losers           Year-on-Year Growth (percent)          
March 2011 February 2011
(revised)
 

Electrical Machinery

-8.7

-7.7

Machinery Except Electrical

-8.2

-7.6

Beverages

-5.2

-4.3

Furniture and Fixtures

-20.7

-21.7

Miscellaneous Manufactures

-4.8

-3.3

Chemical Products

-1.1

-1.5

Paper and Paper Products

-3.2

-5.7

Footwear and Wearing Apparel

-1.1

-1.1

TABLE 1-B. PRODUCER PRICE INDEX, FEBRUARY 2011 - MARCH 2011
(2000=100)

                             Gainers                                        Month-on-Month Growth (percent)         
March 2011 February 2011
(revised)
 

Petroleum Products

4.6

0.8

Basic Metals

0.8

0.9

Food Manufacturing

0.3

0.3

Electrical Machinery

0.1

-1.3

Chemical Products

0.2

0.3

Rubber and Plastic Products*

0.3

0.3

Non-Metallic Mineral Products

0.1

-0.7

Paper and Paper Products

0.0

0.9

Wood and Wood Products

0.0

-4.5

Footwear and Wearing Apparel

0.0

0.0

Beverages

0.0

-0.5

Tobacco Products

0.0

0.0

Publishing and Printing

0.0

0.0

Leather Products

0.0

0.0

 
Losers       Month-on-Month Growth (percent)      
March 2011 February 2011
(revised)
 

Machinery Except Electrical

-1.3

-1.2

Furniture and Fixtures

-7.2

0.8

Miscellaneous Manufactures

-1.6

-0.7

Transport Equipment

-0.3

1.0

Fabricated Metal Products

b/

0.0

Textiles

b/

1.4

Note:

* - new sector in the 2000-based series

* b/ - Less than 0.1 percent decrease

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

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