Total Manufacturing |
October 2008 |
September 2008 |
Producer Price Index (2000=100) |
180.8 |
181.3r |
Year-on-Year Growth |
6.9 |
6.9r |
Month-on-Month Growth |
-0.2 |
0.8r |
· Producer Price Index continue to post single-digit growth
The Producer Price Index (PPI, 2000=100) for the manufacturing industry recorded a 6.9 percent growth in October 2008, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. Nineteen major sectors posted increase in growth led by textiles which registered 13.2 percent. Other sectors that exhibited two-digit growth were the following: basic metals, rubber and plastic products, beverages, paper and paper products, food manufacturing and petroleum products. Refer to Tables 1 and 1-A.
On a month-on-month basis, PPI slightly went down by 0.2 percent in October. Five major sectors contributed to the decrease in growth led by petroleum products with 8.3 percent dropped. On the other hand, ten major sectors exhibited positive growth led by miscellaneous manufactures. Refer to Tables 1 and 1-B.
· Response Rate
The response rate for October 2008 is 91.3 percent, which corresponds to the retrieval of 282 sample establishments reports. Refer to Table 3.
Response Rates for Total Manufacturing
(In percent)
October 2008 |
September 2008 |
91.3 |
96.4r |
· Technical Notes
The 2008 PPI Release utilizes 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 sub-sectors, the major sector of Chemical Products has now six 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, SEPTEMBER - OCTOBER 2008
(2000=100)
Gainers |
Year-on-Year Growth (percent) |
|
October 2008 |
September 2008 |
|
|
||
Food Manufacturing |
10.4 |
10.4 |
Electrical Machinery |
7.2 |
6.5 |
Petroleum Products |
10.1 |
23.6 |
Machinery Except Electrical |
9.6 |
3.3 |
Basic Metals |
12.2 |
21.3 |
Beverages |
11.4 |
11.4 |
Rubber and Plastic Productsa/ |
12.1 |
10.8 |
Non-Metallic Mineral Products |
8.3 |
5.7 |
Transport Equipment |
3.3 |
2.5 |
Chemical Products (excludes Plastic Products) |
2.7 |
3.8 |
Fabricated Metal Products |
9.8 |
12.4 |
Textiles |
13.2 |
12.9 |
Paper and Paper Products |
10.3 |
7.6 |
Footwear and Wearing Apparel |
6.0 |
6.6 |
Publishing and Printing |
9.7 |
9.7 |
Tobacco Products |
1.7 |
1.7 |
Wood and Wood Products |
4.4 |
3.0 |
Leather Products |
5.1 |
5.1 |
Furniture and Fixtures |
0.8 |
-9.4 |
|
||
Losers |
Year-on-Year Growth (percent) |
|
October 2008 |
September 2008 |
|
|
||
Miscellaneous Manufactures |
-4.3 |
-9.0 |
TABLE 1-B. PRODUCER PRICE INDEX, SEPTEMBER - OCTOBER 2008
(2000=100)
Gainers |
Month-on-Month Growth (percent) |
|
October 2008 |
September 2008 |
|
Machinery Except Electrical |
2.6 |
0.3 |
Non-Metallic Mineral Products |
2.2 |
3.7 |
Paper and Paper Products |
2.3 |
0.5 |
Furniture and Fixtures |
3.0 |
7.1 |
Rubber and Plastic Products a/ |
1.0 |
0.1 |
Transport Equipment |
0.3 |
2.3 |
Wood and Wood Products |
1.0 |
0.0 |
Textiles |
0.4 |
0.5 |
Footwear and Wearing Apparel |
0.2 |
1.8 |
Electrical Machinery |
0.0 |
3.1 |
Leather Products |
0.0 |
0.0 |
Miscellaneous Manufactures |
3.4 |
0.5 |
Tobacco Products |
0.0 |
2.4 |
Publishing and Printing |
0.0 |
0.0 |
Beverages |
0.0 |
0.0 |
|
||
Losers |
Month-on-Month Growth (percent) |
|
October 2008 |
September 2008 |
|
|
||
Petroleum Products |
-8.3 |
-8.5 |
Basic Metals |
-5.9 |
-0.7 |
Food Manufacturing |
-0.2 |
-0.3 |
Chemical Products (excludes Plastic Products) |
-0.4 |
-1.3 |
Fabricated Metal Products |
-0.3 |
2.3 |
Note:
a/ - 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