Year-on-Year
The Producer Price Index (PPI) for manufacturing was still at a downtrend with an annual rate of -3.1 percent in March 2021. This decrease was slower than the annual decline of -5.5 percent in February 2021. In March 2020, the PPI also registered an annual downturn rate of -5.9 percent. (Table A)
The contraction in the PPI in March 2021 can be attributed to the annual decreases in the indices of 15 industry divisions led by manufacture of computer, electronic, and optical products which posted an annual decrement of -17.2 percent.
On the other hand, manufacture of coke and refined petroleum products, with an annual increase of 3.0 percent, led the six industry divisions that recorded positive annual growths while printing and reproduction of recorded media registered a zero annual growth rate. (Tables A-1, and 1)
Month-on-Month
Month-on-month, the PPI for manufacturing slightly fell by -0.04 percent in March 2021, following a slight increase of 0.05 percent in the previous month. In March 2020, the PPI decreased by -2.5 percent. (Table A)
Nine industry divisions recorded negative monthly growth rates in March 2021 with manufacture of basic pharmaceutical products and pharmaceutical preparations posting the highest monthly decrement of -1.7 percent. On the other hand, the PPI of 11 industry divisions posted monthly increments, with manufacture of machinery and equipment except electrical posting the highest monthly increase of 1.6 percent. Monthly growth rates of the rest of the industry divisions remained the same at zero percent. (Tables A-2 and 1)
(Sgd.) DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
Attachments:
1. Table 1. Producer Price Index (2018=100) Year-on-Year and Month-on-Month Growth Rates for Manufacturing Sector, January 2020r – March 2021p
2. Table 2. Distribution of Samples and Responding Establishments by Major Industry Division: PPS, February 2021p, February 2021r and March 2021p
3. Technical Notes
- Introduction
- Method of Index Computation
- Computation of Growth Rates
Year-on-year growth rates are computed by dividing the current month’s index by the index of the same month of the previous year less 1.
Month-on-month growth rates are computed by dividing the current month’s index by the previous month’s index less 1.
- Imputation and Revision
Imputation is done for sample establishments that are in operation during the reference period but with no received response during the release date. Results are revised accordingly when the actual data are received and these revisions are reflected in the next release.
- Industry Coverage
Starting with the January 2013 reference month, PPI utilizes the 2009 Philippine Standard Industrial Classification (PSIC) to classify sectors and industries. Selected industry groups of the 2009 PSIC were grouped to form the 22 industry divisions of the 2021 PPS. These are presented in the table below.
2009 PSIC CODE |
INDUSTRY DESCRIPTION |
---|---|
C10 |
Manufacture of food products * |
C11 |
Manufacture of beverages |
C12 |
Manufacture of tobacco products |
C13 |
Manufacture of Textiles |
C14 |
Manufacture of wearing apparel |
C15 |
Manufacture of leather and related products, including footwear |
C16 |
Manufacture of wood, bamboo, cane, rattan articles, and related products products* |
C17 |
Manufacture of paper and paper products |
C18 |
Printing and reproduction of recorded media |
C19 |
Manufacture of coke and refined petroleum products |
C20 |
Manufacture of chemical and chemical products* |
C21 |
Manufacture of basic pharmaceutical products and pharmaceutical preparations |
C22 |
Manufacture of rubber and plastic products* |
C23 |
Manufacture of other non-metallic mineral products* |
C24 |
Manufacture of basic metals* |
C25 |
Manufacture of fabricated metal products, except machinery and equipment* |
C26 |
Manufacture of computer, electronic, and optical products* |
C27 |
Manufacture of electrical equipment* |
C28 |
Manufacture of machinery and equipment except electrical* |
C29, C30 |
Manufacture of transport equipment* |
C31 | Manufacture of furniture |
C32, C33 | Other manufacturing |
* Industry divisions categorized further into industry groups
See more at the Producer Price Survey (PPS) main page.