Production Index and Net Sales Index (Monthly Integrated Survey of Selected Industries) August 2022 (2018=100)

Reference Number: 

2022-408

Release Date: 

Friday, October 7, 2022

 

PRODUCTION

Value of Production Index exhibited an upward trend

The Value of Production Index (VaPI) continued to register a two-digit year-on-year increment of 11.0 percent in August 2022, faster than the July 2022 annual growth of 10.6 percent. In August 2021, the VaPI accelerated with an annual growth rate of 531.3 percent.  (Tables A and 1)

Contributory to the increase of VaPI were the annual growths exhibited by 18 out of the 22 industry divisions. Among these, manufacture of machinery and equipment except electrical posted the highest annual growth rate of 77.4 percent in August 2022. On the other hand, the remaining four industry divisions posted decrements in their production with manufacture of electrical equipment registering the fastest annual decline of -48.2 percent.  (Tables B.1 and 1)

Volume of Production Index slightly grew

The Volume of Production Index (VoPI) sustained its positive annual growth of 3.5 percent in August 2022, compared with the previous month’s annual rate of 2.4 percent. In August 2021, VoPI upsurged at an annual growth rate of 533.7 percent.  (Tables A and 2)

Out of the 22 industry divisions, 17 reported positive annual growths which was led by manufacture of machinery and equipment except electrical with 78.0 percent annual growth rate. On the contrary, five industry divisions posted annual decreases with manufacture of electrical equipment exhibiting the fastest annual drop of -49.3 percent.  (Tables B.2 and 2)

 

 

 

 

 

 

 

NET SALES

Value of Net Sales Index continued to accelerate

The Value of Net Sales Index (VaNSI) grew further in August 2022 with an annual growth rate of 26.0 percent, from its previous month’s annual increase of 23.2 percent. In August 2021, VaNSI grew at a slower annual rate of 8.4 percent.  (Tables A and 3)

The increase in VaNSI for August 2022 was contributed by the expansions in sales of 15 of the 22 industry divisions.  Among these, the fastest annual growth was noted in manufacture of beverages with a three-digit annual growth rate of 112.7 percent. In contrast, seven industry divisions exhibited downturns during the period with manufacture of furniture recording the highest annual drop of -22.8 percent.  (Tables C.1 and 3)

Volume of Net Sales Index gained further

The Volume of Net Sales Index (VoNSI) continued to exhibit an upward trend, posting an annual growth of 17.5 percent in August 2022, faster than the July 2022 annual rate of 14.1 percent. In August 2021, VoNSI recorded an annual increase of 8.8 percent.  (Tables A and 4)                        

The annual growth in VoNSI for August 2022 was attributed to the annual increments in sales of 14 of the 22 industry divisions. Among these, the fastest annual increase was observed in manufacture of beverages with 101.7 percent annual growth rate. Meanwhile, the remaining eight industry divisions registered annual decreases in their sales with manufacture of furniture registering the fastest annual drop of -24.2 percent.  (Tables C.2 and 4)

 

 

 

 

 

CAPACITY UTILIZATION

Average capacity utilization rate for manufacturing slightly increased

Based on responding establishments, the average capacity utilization rate for manufacturing sector in August 2022 was reported at 71.4 percent, from 71.3 percent in the previous month.

There were 20 out of 22 industry divisions with more than 60 percent average capacity utilization rate, led by manufacture of furniture (83.3%), manufacture of computer, electronic, and optical products (81.7%), and manufacture of wearing apparel (79.3%).  (Table 6)

About one-fourth of responding establishments operated at full capacity

The proportion of establishments that operated at full capacity (90% to 100%) was 25.6 percent of the total number of responding establishments. Meanwhile, 36.6 percent operated at 70 to 89 percent capacity, while 37.8 percent operated below 70 percent capacity.  (Table D)

 

 

 

 

DENNIS S. MAPA, Ph. D.
Undersecretary
National Statistician and Civil Registrar General

 

 

See more at the Monthly Integrated Survey of Selected Industries (MISSI) landing page.

 

 

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