PREVIOUS RELEASE

Monthly Integrated Survey of Selected Industries : March 2012

Release Date:
May 15, 2012

 

Figure 1

                                                                             

  • Value of Production on upward trend in March 2012

Value of Production Index (VaPI) for total manufacturing gained further as it posted a two-digit increment of 11.0 percent in March 2012, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Fourteen major sectors accounted for the growth in VaPI led by footwear and wearing apparel with 95.6 percent. Other major sectors that exhibited a two-digit increases were the following: furniture and fixtures (70.8%), tobacco products (27.3%), electrical machinery (25.7%), food manufacturing (25.1%), publishing and printing (17.3%), petroleum products (16.7%), beverages (12.4%) and rubber and plastic products (10.4%). Refer to Tables 1-A and 1.

VaPI, on a monthly basis, continued to grow at 7.5 percent in March 2012. Eighteen of the 20 major sectors posted increases in VaPI, led by wood and wood products with two-digit increase of 21.4 percent. Refer to Tables 1-A and 1.

 

  • Volume of Production continues to grow in March 2012.

Likewise, Volume of Production Index (VoPI) recorded a year-on-year growth of 8.2 percent in March 2012. Significant expansions in production output were noted in the following major sectors: furniture and fixtures (95.1%), footwear and wearing apparel (94.6%), tobacco products (28.4%), electrical machinery (28.0%), publishing and printing (17.3%), food manufacturing (16.1%), wood and wood products (13.7%) and beverages (11.3%). Refer to Tables 1-B and 2.

On a month-on-month change, VoPI accelerated to 7.9 percent in March 2012. Four of the 18 major sectors reported double-digit increases as follows: wood and wood products (20.4%), electrical machinery (13.7%), miscellaneous manufactures (12.3%) and leather products (11.1%). Refer to Tables 1-B and 2.

Figure 1

 

Figure 2

  • Value of Net Sales decelerates in March 2012

Value of Net Sales Index (VaNSI) continued to decrease as it posted a year-on-year decrement of 1.9 percent in March 2012. Among the nine major sectors reporting decreases in VaNSI, five major sectors significantly contributed to the decline, namely: basic metals (-42.3%), textiles (-28.9%), paper and paper products (-12.5%), furniture and fixtures (-10.8%) and food manufacturing (-10.5%). Refer to Tables 2-A and 3.

On a month-on-month basis, however, VaNSI grew 6.6 percent in March 2012. This was due to the two-digit growth in nine out of 16 major sectors that registered increases in VaNSI. Wood and wood products posted the largest increase of 24.4 percent followed by beverages (20.3%). Refer to Tables 2-A and 3.

  • Volume of Net Sales likewise decreases

Volume of Net Sales Index (VoNSI) also slump merely by 4.4 percent in March 2012 compared to the year ago figure. Sectors that mainly influenced the decrease in VoNSI were the following: basic metals (-39.4%), textiles (-27.2%), food manufacturing (-16.9%) and paper and paper products (-12.8%). Refer to Tables 2-B and 4.

On a monthly basis, VoNSI modestly expanded by 7.1 percent in March 2012. This was due to the double-digit increases in VoNSI noted in the following major sectors: wood and wood products (23.3%), beverages (20.3%), machinery except electrical (19.7%), non-metallic mineral products (15.5%), electrical machinery (15.2%), basic metals (11.2%) and chemical products (10.2%). Refer to Tables 2-B and 4.

Figure 3

 

  • Capacity Utilization in March 2012

Average capacity utilization in March 2012 for total manufacturing stood at 83.6 percent. Twelve of the 20 major sectors registered capacity utilization rates of more than 80 percent, namely: basic metals (87.5%), food manufacturing (87.4%), petroleum products (87.3%), non-metallic mineral products (84.5%), electrical machinery (84.4%), chemical products (83.6%), miscellaneous manufactures (83.2%), rubber and plastic products (83.0%), machinery except electrical (82.9%), paper and paper products (82.6%), footwear and wearing apparel (80.3%) and wood and wood products (80.1%). Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 20.6 percent in March 2012. About 57.0 percent of the establishments operated at 70% to 89% capacity while 22.4 percent of the establishments operated below 70% capacity.

 

Below 50 percent 3.6
50 percent - 59 percent 6.4
60 percent - 69 percent 12.4
70 percent - 79 percent 17.6
80 percent - 89 percent 39.4
90 percent - 100 percent 20.6

            Table B   Distribution of Key Manufacturing Establishments
                             by Capacity Utilization for Total Manufacturing:
                             March 2012

Capacity Utilization Percent Share

 

 

                      


TECHNICAL NOTES

  • Introduction

The Monthly Integrated of Selected Industries (MISSI) is one of the designated statistical activities undertaken by the National Statistics Office to provide flash indicators on the performance of growth-oriented industries in the manufacturing sector. The survey gathers monthly data on employment, compensation, production, net sales, inventories and capacity utilization.

Beginning with the January 2012 MISSI, the monthly report for the survey will be released earlier, that is, 45 days after each reference month instead of the 55 days.

The indicators generated from the 2012 MISSI are Value of Production Index (VaPI), Volume of Production Index (VoPI), Value of Net Sales (VaNSI), and Volume of Net Sales (VoNSI). However, the VoPI and VoNSI are derived indicators utilizing the 2012 Producer Price Index as deflator.

  • Method of Index Computation

The MISSI utilizes the Laspeyres-type method of index computation where the weights are computed from the value of production of the Census of Philippine Business and Industry (CPBI).

For the 2012 MISSI index series with base year of 2000, the weights of the major sectors and sub-sectors were computed from the results of the 2000 CPBI for manufacturing establishments with average total employment of 20 and over. The weights are computed from the value of products sold plus change in inventories.

The formulas in the computation are as follows:

Figure 1

Figure 2

Figure 3

Figure 4

Figure 5

Figure 6

Figure 7

Figure 8

Figure 9

  • Industry Coverage

The industry coverage of the 2012 MISSI conforms with the amended 1994 PSIC groupings. There are 20 major sectors as shown below with 10 further disaggregated into sub-sectors.

 

 
1994 PSIC CODE INDUSTRY DESCRIPTION
15 except 155 Food Manufacturing*
155 Beverages
16 Tobacco products
17 Textiles*
18,174 and 192 Footwear and wearing apparel
191 Leather products
20 Wood and wood products*
21 Paper and paper products
22 Publishing and printing
23 Petroleum products*
24 Chemical products*
25 Rubber and plastic products*
26 Non-metallic mineral products*
27 Basic metals*
28 Fabricated metal products
29 and 30 Machinery except electrical*
31 and 32 Electrical machinery*
34 and 35 Transport equipment
36 Furniture and fixtures
33, 37 and 39 Miscellaneous manufactures

                                             Note: * - Major sectors categorized into sub-sectors

 

  • Response Rate

    The response rates for the March 2012 MISSI and 2012 PPS are 78.7 percent and 90.1 percent, respectively. Refer to Tables 7 and 8

 

MISSI 78.7 89.0r
PPS 90.1r 95.2r

  Table C   Response Rates for Total Manufacturing
           (In percent)

  March 2012 February 2012
(revised)

 

 

Data of non-responding sample establishments are estimated based on previous records and other available sources. Revisions to the preliminary estimated are done upon receipt of actual reports of late respondents.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                       (Sgd.) CARMELITA N. ERICTA
                                                                                                                           Administrator

 

 

 

 

 

 


 

TABLE 1-A. Value of Production Index, February 2012 - March 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
March 2012 February 2012
(revised)
 

Electrical Machinery

25.7

2.6

Food Manufacturing

25.1

22.6

Footwear and Wearing Apparel

95.6

81.8

Petroleum Products

16.7

20.5

Beverages

12.4

16.9

Furniture and Fixtures

70.8

68.2

Tobacco Products

27.3

28.5

Machinery Except Electrical

4.3

11.7

Rubber and Plastic Products

10.4

11.6

Chemical Products

2.7

11.5

Publishing and Printing

17.3

-1.2

Non-Metallic Mineral Products

2.9

15.9

Wood and Wood Products

3.3

0.8

Leather Products

a/

-20.3

 
Losers Year-on-Year Growth (%)
March 2012 February 2012
(revised)
 

Basic Metals

-25.8

-30.8

Transport Equipment

-10.4

5.8

Miscellaneous Manufactures

-18.3

-33.7

Fabricated Metal Products

-21.4

-13.3

Paper and Paper Products

-13.9

a/

Textiles

-9.9

-11.6

 

TABLE 1-A. Value of Production Index, February 2012 - March 2012 (concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
March 2012 February 2012
(revised)
 

Electrical Machinery

10.7

2.9

Food Manufacturing

7.1

12.1

Petroleum Products

10.2

-1.9

Chemical Products

8.4

14.6

Beverages

8.4

14.6

Basic Metals

7.4

-18.3

Footwear and Wearing Apparel

7.8

18.6

Miscellaneous Manufactures

11.7

5.9

Wood and Wood Products

21.4

-9.9

Fabricated Metal Products

7.8

7.5

Tobacco Products

5.8

19.1

Machinery Except Electrical

0.9

5.8

Non-Metallic Mineral Products

2.9

13.7

Rubber and Plastic Products

2.9

1.1

Textiles

2.0

1.7

Paper and Paper Products

1.6

-2.2

Leather Products

12.3

-10.6

Furniture and Fixtures

0.8

12.8

 
Losers Month-on-Month Growth (%)
March 2012 February 2012
(revised)
 

Transport Equipment

-0.1

17.5

Publishing and Printing

-0.2

6.8

Notes:

a/ - Less than 0.1 percent increase

Sectors are ranked according to their contribution to the overall 2000-based March 2012 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.

 

TABLE 1-B. Volume of Production Index, February 2012 - March 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
March 2012 February 2012
(revised)
 

Electrical Machinery

28.0

1.7

Footwear and Wearing Apparel

94.6

80.9

Food Manufacturing

16.1

12.9

Furniture and Fixtures

95.1

170.3

Tobacco Products

28.4

29.6

Beverages

11.3

15.8

Non-Metallic Mineral Products

9.0

23.2

Chemical Products

3.1

10.9

Petroleum Products

2.0

3.1

Publishing and Printing

17.3

-1.3

Rubber and Plastic Products

4.1

6.5

Wood and Wood Products

13.7

11.9

Leather Products

3.0

-17.0

 
Losers Year-on-Year Growth (%)
March 2012 February 2012
(revised)
 

Basic Metals

-22.0

-28.3

Machinery Except Electrical

-7.6

-3.1

Transport Equipment

-11.7

4.2

Miscellaneous Manufactures

-15.7

-29.2

Paper and Paper Products

-14.1

1.1

Fabricated Metal Products

-16.2

-8.7

Textiles

-7.8

-10.0

 

TABLE 1-B. Volume of Production Index, February 2012 - March 2012(concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
March 2012 February 2012
(revised)

Electrical Machinery

13.7

2.7

Food Manufacturing

7.0

11.9

Chemical Products

8.4

14.7

Petroleum Products

5.1

-7.6

Beverages

8.4

3.3

Basic Metals

8.0

-18.9

Machinery Except Electrical

3.6

5.4

Miscellaneous Manufactures

12.3

6.1

Footwear and Wearing Apparel

7.8

17.5

Fabricated Metal Products

9.0

7.4

Wood and Wood Products

20.4

-9.9

Tobacco Products

5.8

19.1

Rubber and Plastic Products

2.9

1.1

Paper and Paper Products

2.9

-3.1

Non-Metallic Mineral Products

1.9

12.2

Transport Equipment

0.9

18.8

Textiles

2.0

1.7

Leather Products

11.1

-10.6

 
Losers Month-on-Month Growth (%)
March 2012 February 2012
(revised)
 

Furniture and Fixtures

-9.0

20.2

Publishing and Printing

-0.2

6.8

Notes

Sectors are ranked according to their contribution to the overall 2000-based March 2012 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.

 

TABLE 2-A. Value of Net Sales Index, February 2012 - March 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
March 2012 February 2012
(revised)
 

Machinery Except Electrical

29.8

15.9

Footwear and Wearing Apparel

81.3

73.2

Petroleum Products

12.4

7.8

Beverages

12.8

5.4

Chemical Products

5.4

4.9

Non-Metallic Mineral Products

8.5

8.6

Electrical Machinery

1.2

-5.6

Publishing and Printing

9.4

0.3

Rubber and Plastic Products

9.0

17.8

Wood and Wood Products

8.7

11.4

Leather Products

8.9

-15.4

 
Losers Year-on-Year Growth (%)
March 2012 February 2012
(revised)
 

Basic Metals

-42.3

-50.9

Food Manufacturing

-10.5

10.4

Textiles

-28.9

-15.9

Paper and Paper Products

-12.5

-9.9

Fabricated Metal Products

-8.8

-2.9

Miscellaneous Manufactures

-5.2

-29.1

Furniture and Fixtures

-10.8

-17.8

Tobacco Products

-0.2

26.6

Transport Equipment

b/

2.0

 

TABLE 2-A. Value of Net Sales Index, February 2012 - March 2012
(concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
March 2012 February 2012
(revised)
 

Electrical Machinery

12.3

3.7

Machinery Except Electrical

16.7

1.8

Petroleum Products

12.2

-6.3

Beverages

20.3

-4.1

Chemical Products

10.2

9.6

Non-Metallic Mineral Products

16.7

-4.0

Basic Metals

10.6

-21.8

Transport Equipment

8.1

14.2

Footwear and Wearing Apparel

9.5

20.3

Miscellaneous Manufactures

8.0

10.2

Wood and Wood Products

24.4

-10.6

Fabricated Metal Products

7.3

-8.7

Tobacco Products

5.3

4.7

Leather Products

10.9

-6.4

Publishing and Printing

2.1

4.1

Paper and Paper Products

1.0

5.1

 
Losers Month-on-Month Growth (%)
March 2012 February 2012
(revised)
 

Food Manufacturing

-8.7

7.7

Textiles

-5.1

-0.6

Rubber and Plastic Products

-1.5

-0.9

Furniture and Fixtures

-0.2

-1.0

 

Note:

Sectors are ranked according to their contribution to the overall 2000-based March 2012 growth rate.

Year-on-year growth rates are computed by dividing the current month value of net sales by previous year same month value of net sales less 1.

Month-on-month growth rates are computed by dividing the current month value of net sales by previous month value of net sales less 1.

 

TABLE 2-B. Volume of Net Sales Index, February 2012 - March 2012
(2000=100)
 
Gainers Year-on-Year Growth (%)
March 2012 February 2012
(revised)

Footwear and Wearing Apparel

80.4

72.3

Machinery Except Electrical

14.9

0.5

Electrical Machinery

3.1

-6.4

Beverages

11.4

4.4

Chemical Products

5.8

4.3

Non-Metallic Mineral Products

14.9

15.4

Publishing and Printing

9.4

0.3

Wood and Wood Products

19.7

23.7

Rubber and Plastic Products

2.8

12.4

Leather Products

12.2

-11.9

Furniture and Fixtures

1.9

32.1

Tobacco Products

0.6

27.7

 
Losers Year-on-Year Growth (%)
March 2012 February 2012
(revised)
 

Food Manufacturing

-16.9

1.6

Basic Metals

-39.4

-49.1

Textiles

-27.2

-14.4

Paper and Paper Products

-12.8

-8.9

Petroleum Products

-1.8

-7.8

Transport Equipment

-1.4

0.5

Miscellaneous Manufactures

-2.1

-24.3

Fabricated Metal Products

-2.8

2.2

 

TABLE 2-B. Volume of Net Sales Index, February 2012 - March 2012
(concluded)
(2000=100)
 
Gainers Month-on-Month Growth (%)
March 2012 February 2012
(revised)
 

Electrical Machinery

15.2

3.5

Machinery Except Electrical

19.7

1.4

Beverages

20.3

-3.6

Chemical Products

10.2

9.7

Petroleum Products

7.0

-11.8

Basic Metals

11.2

-22.3

Non-Metallic Mineral Products

15.5

-5.3

Transport Equipment

9.2

15.4

Footwear and Wearing Apparel

9.5

19.2

Miscellaneous Manufactures

8.6

10.4

Wood and Wood Products

23.3

-10.6

Fabricated Metal Products

8.4

-8.9

Tobacco Products

5.3

4.7

Paper and Paper Products

2.4

4.1

Publishing and Printing

2.2

4.1

Leather Products

9.7

-6.4

 
Losers Month-on-Month Growth (%)
March 2012 February 2012
(revised)
 

Food Manufacturing

-8.8

7.6

Textiles

-5.1

-0.6

Furniture and Fixtures

-9.9

5.5

Rubber and Plastic Products

-1.5

-0.9

Note:

Sectors are ranked according to their contribution to the overall 2000-based March 2012 growth rate.

Year-on-year growth rates are computed by dividing the current month volume of net sales by previous year same month volume of net sales less 1.

Month-on-month growth rates are computed by dividing the current month volume of net sales by previous month volume of net sales less 1.

 


Source:   National Statistics Office
                 Manila, Philippines

 

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