PREVIOUS RELEASE

Monthly Integrated Survey of Selected Industries : December 2003

Release Date:
February 24, 2004

 

Total manufacturing December 2003 November 2003
Year-on-Year Growth  
Production Index  
Value(VaPI) 3.4 -0.9r
Volume(VoPI) -3.1 -8.4r
Net Sales Index    
Value 7.3 9.8r
Volume -0.3 0.4r
      Producers Price Index 6.8 8.2r
  Average Capacity Utilization 78.2 78.2r

 

·  Value of Production Index (VaPI) rebounds

Value of Production Index (VaPI) of the manufacturing industry improved by 3.4 percent in December 2003 compared with a year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Significant improvements were observed in the following sectors: basic metals, publishing and printing, paper and paper products, wood and wood products, rubber products, and textile (see Table 1-A).

However, VaPI's month-on-month performance for total manufacturing remained steady in December 2003. Sectors with double-digit increases were the following: wood and wood products, leather products, furniture and fixtures, publishing and printing, footwear and wearing apparel, beverage and basic metals (see Table 1-A).

·  Volume of Production Index (VoPI) still in its downtrend

Volume of Production Index (VoPI) declined by 3.1 percent in December 2003 vis-à-vis the year ago figure. Sectors which contributed largely to the slowdown in production were the following:leather products, tobacco, footwear and wearing apparel, nonmetallic mineral products, electrical machinery and transport equipment (see Table 1-B).

Likewise, VoPI weakened by 0.5 percent on a month-on-month basis in December 2003. Double-digit decreases were reported by the following sectors: miscellaneous manufactures, machinery, excluding electrical, transport equipment, textile and rubber products (see Annex 1-B).

 

 

·  Value of Net Sales continues to gain

Year-on-year growth in the Value of Net Sales continued at a slower rate of 7.3 percent in December 2003. Significant increments were reported by the following sectors: petroleum products, basic metals, fabricated metal products, publishing and printing, nonmetallic mineral products, miscellaneous manufactures and machinery, excluding electrical (see Table 2-A).

Value of Net Sales on a monthly basis gained momentum in December 2003 with a 7.3 percent increase compared to the previous month�s (revised) decrease of 2.2 percent. This was due to the favorable demand noted in the following major sectors: fabricated metal products, tobacco, footwear and wearing apparel, furniture and fixtures, food manufacturing, beverage, publishing and printing, petroleum products and transport equipment (see Table 2-A).

 

·  Net Sales Volume follows a downtrend

Net Sales Volume in December 2003 on a year-on-year basis registered a decline of 0.3 percent. Major sectors which contributed to the decrease were the following: leather products, footwear and wearing apparel, electrical machinery, wood and wood products and paper and paper products (see Table 2-B).

Meanwhile, Volume of Net Sales on a month-on-month basis edged higher at 6.9 percent in December 2003. This was attributed by the strong sales performance of the following sectors:fabricated metal products, tobacco, footwear and wearing apparel, furniture and fixtures, food manufacturing, beverage, publishing and printing, transport equipment andpetroleum products (see Table 2-B)..

·  Producer's Price Index (PPI) slightly increases

The Producer's Price Index (PPI) for total manufacturing continued to grow at a slower rate of 6.8 percent in December 2003 compared to the previous month�s year-on-year (revised) figure of 8.2 percent. Cement, a sub-sector of nonmetallic mineral products posted the highest growth of 24.8 percent. Major sectors which registered double-digit increments were the following:footwear and wearing apparel, electrical machinery, nonmetallic mineral products,paper and paper products, leather products and petroleum products (see Table 5).

On a monthly basis, PPI for total manufacturing picked up by 0.5 percent in December 2003. The top five sectors that contributed to the increase were the following: textile, wood and wood products, nonmetallic mineral products, basic metals and petroleum products (see Table 5).

 

·  Capacity Utilization

Average capacity utilization in December 2003 for total manufacturing was estimated at 78.2 percent. Sectors that posted more than 80% capacity utilization rate were the following:machinery, excluding electrical, basic metals, paper and paper products, miscellaneous manufactures, electrical machinery and petroleum products (see Table 6).

The proportion of responding establishments that operated at full capacity (90%-100%) in December 2003 was 13.4 percent. About 51.2 percent of the responding establishments operated at 70%-89% capacity and 35.4 percent of the establishments operated below 70% capacity.

Distribution of Key Manufacturing Establishments
by Capacity Utilization
Total Manufacturing, December 2003

(In percent)

            Capacity Utilization            

         1994-based         

Below 50 percent

14.1

50 percent - 59 percent

7.8

60 percent - 69 percent

13.5

70 percent - 79 percent

23.5

80 percent - 89 percent

27.7

90 percent - 100 percent

13.4

 

                                            Note: Details may not add up to 100 due to rounding.

·  Response Rate

The response rate for December 2003 is 89.2 percent, which corresponds to the retrieval of 496 sample establishments, reports (see Table 7).

Response Rates for Total Manufacturing
(In percent)

December 2003

November 2003
(revised)

89.2

95.3

 

·  Technical Notes

Data of nonresponding 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
                                                                                                                                                                                Administrator


 

TABLE 1-A. VALUE OF PRODUCTION INDEX, November - December 2003
(1994 =100)

Gainers                            

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Basic metals

163.6

157.2

Chemical products

9.8

4.0

Petroleum products

5.3

-7.5

Publishing and printing*

45.3

14.2

Paper and paper products

24.4

5.1

Textile

14.7

11.9

Wood and wood products

17.4

-22.6

Beverage

2.7

-0.8

Rubber products

17.0

33.5

Miscellaneous manufactures

6.3

12.9

Fabricated metal products*

3.2

5.6

 

Losers

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Electrical machinery

-13.7

-12.0

Tobacco

-42.0

-50.7

Footwear and wearing apparel*

-25.5

-25.8

Nonmetallic mineral products

-18.1

-14.8

Transport equipment

-9.4

-13.5

Food manufacturing

-1.6

2.7

Leather products*

-89.2

-92.7

Machinery, excluding electrical*

-4.9

-0.1

Furniture and fixtures

-6.9

-26.3

 

TABLE 1-A. VALUE OF PRODUCTION INDEX, November - December 2003 
(concluded)
(1994=100)

Gainers                            

      Month-on-Month Growth (percent)      

December 2003

November 2003
(revised)

Beverage

14.0

-1.9

Basic metals

11.1

1.3

Footwear and wearing apparel*

14.6

-9.1

Chemical products

2.7

0.6

Wood and wood products

18.9

-13.4

Publishing and printing*

15.0

3.1

Fabricated metal products*

6.6

18.9

Furniture and fixtures

16.7

-35.9

Paper and paper products

4.0

4.6

Leather products*

17.7

-7.5

 

Losers

      Month-on-Month Growth (percent)      

December 2003

November 2003
(revised)

Transport equipment

-13.0

-5.6

Electrical machinery

-4.5

-10.4

Petroleum products

-2.7

-20.0

Machinery, excluding electrical*

-15.5

5.4

Tobacco

-6.4

4.2

Nonmetallic mineral products

-5.3

-2.0

Miscellaneous manufactures

-16.0

-15.5

Textile

-4.5

-10.9

Food manufacturing

-0.6

5.4

Rubber products

-10.6

-3.0

 

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based December 2003 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, November - December 2003
(1994 = 100)

Gainers                            

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Basic metals

139.8

135.4

Publishing and printing*

45.3

14.2

Chemical products

1.6

-13.7

Rubber products

23.7

41.0

Paper and paper products

6.3

-11.1

Wood and wood products

11.6

8.0

Textile

2.5

10.1

Fabricated metal products*

1.5

3.8

Beverage

0.4

-2.6

Miscellaneous manufactures

1.1

9.7

 

Losers

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Electrical machinery

-26.5

-23.8

Footwear and wearing apparel*

-38.6

-38.5

Tobacco

-42.0

-50.6

Nonmetallic mineral products

-30.2

-25.0

Petroleum products

-7.9

-18.1

Transport equipment

-11.1

-15.4

Food manufacturing

-0.8

-2.9

Leather products*

-90.7

-93.8

Machinery, excluding electrical*

-6.0

-1.3

Furniture and fixtures

-7.8

-27.3

 

TABLE 1-B. VOLUME OF PRODUCTION INDEX, November - December 2003
(concluded)
(1994=100)

Gainers                            

      Month-on-Month Growth (percent)      

December 2003

November 20033
(revised)

Beverage

14.0

-1.7

Footwear and wearing apparel*

15.2

-7.5

Basic metals

9.9

0.5

Chemical products

4.5

-0.7

Publishing and printing*

15.0

3.1

Wood and wood products

12.7

-15.2

Fabricated metal products*

6.6

18.9

Furniture and fixtures

16.9

-35.9

Paper and paper products

4.9

4.4

Leather products*

17.7

-7.5

 

Losers

          Month-on-Month Growth (percent)          

December 2003

November 2003
(revised)

Transport equipment

-13.1

-5.7

Electrical machinery

-4.8

-4.1

Petroleum products

-3.3

-21.8

Textile

-12.7

-10.7

Nonmetallic mineral products

-8.0

-0.8

Tobacco

-6.7

4.5

Machinery, excluding electrical*

-15.5

5.5

Food manufacturing

-0.9

4.7

Miscellaneous manufactures

-16.1

-15.5

Rubber products

-10.5

-3.5

 

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based December 2003 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, November - December 2003
(1994=100)

Gainers                            

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Petroleum products

32.2

18.5

Basic metals

31.6

150.3

Food manufacturing

4.5

-4.0

Chemical products

6.3

2.0

Nonmetallic mineral products

21.0

31.7

Fabricated metal products*

24.7

8.4

Beverage

7.4

2.4

Publishing and printing*

23.0

7.9

Machinery, excluding electrical*

14.6

18.7

Transport equipment

3.1

-9.3

Miscellaneous manufactures

15.7

4.8

Textile

3.1

7.3

 

Losers

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Footwear and wearing apparel*

-30.0

-25.1

Electrical machinery

-10.7

-5.2

Tobacco

-5.7

-30.3

Wood and wood products

-16.9

-29.2

Leather products*

-100.0

-100.0

Paper and paper products

-3.8

6.4

Rubber products

-3.4

3.4

Furniture and fixtures

-3.5

-26.1

 

TABLE 2-A. VALUE OF NET SALES, November - December 2003 (concluded)
(1994=100)

Gainers                            

      Month-on-Month Growth (percent)      

December 2003

November 2003
(revised)

Food manufacturing

17.0

3.2

Beverage

16.4

5.3

Footwear and wearing apparel*

17.6

-10.0

Transport equipment

10.5

-3.8

Chemical products

4.9

-1.9

Tobacco

18.4

2.3

Fabricated metal products*

24.3

10.0

Basic metals

5.8

-13.8

Petroleum products

11.1

-2.7

Publishing and printing*

14.2

-0.7

Furniture and fixtures

17.2

-28.8

Wood and wood products

4.0

-8.2

 

Losers

      Month-on-Month Growth (percent)      

December 2003

November 2003
(revised)

Electrical machinery

-7.8

-6.6

Nonmetallic mineral products

-13.6

0.7

Textile

-8.2

-8.2

Paper and paper products

-10.0

5.3

Machinery, excluding electrical*

-11.5

8.8

Rubber products

-15.3

-2.8

Leather products*

-33.5

-14.7

Miscellaneous manufactures

-3.4

-13.6

 

Note: * - new sectors in the 1994-based series

Sectors are ranked according to their contribution to the overall 1994-based December 2003 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, November - December 2003
(1994=100)

Gainers                            

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Basic metals

19.7

129.1

Food manufacturing

5.3

-9.2

Petroleum products

15.6

5.0

Fabricated metal products*

22.6

6.6

Publishing and printing*

23.0

7.9

Beverage

5.0

0.6

Machinery, excluding electrical*

13.3

17.3

Miscellaneous manufactures

10.1

1.9

Nonmetallic mineral products

3.2

15.9

Transport equipments

1.2

-11.3

Rubber products

2.1

9.2

 

Losers

          Year-on-Year Growth (percent)          

December 2003

November 2003
(revised)

Electrical machinery

-24.0

-17.9

Footwear and wearing apparel*

-42.3

-37.9

Paper and paper products

-17.7

-9.9

Textile

-7.9

5.6

Wood and wood products

-21.0

-1.2

Chemical products

-1.6

-15.3

Tobacco

-5.8

-30.4

Leather products*

-100.0

-100.0

Furniture and fixtures

-4.4

-27.1

 

TABLE 2-B. VOLUME OF NET SALES, November - December 2003 (concluded)
(1994=100)

Gainers                            

      Month-on-Month Growth (percent)      

December 2003

November 2003
(revised)

Food manufacturing

16.5

2.5

Beverage

16.5

5.6

Footwear and wearing apparel*

18.3

-8.4

Chemical products

6.7

-3.2

Transport equipment

10.3

-3.9

Tobacco

18.4

2.3

Fabricated metal products*

24.3

10.0

Basic metals

4.6

-14.5

Publishing and printing*

14.2

-0.7

Petroleum products

10.3

-4.9

Furniture and fixtures

17.5

-28.9

 

Losers

      Month-on-Month Growth (percent)      

December 2003

November 2003
(revised)

Electrical machinery

-8.1

0.0

Nonmetallic mineral products

-16.1

1.9

Textile

-16.1

-8.0

Paper and paper products

-9.2

5.1

Machinery, excluding electrical*

-11.5

8.8

Rubber products

-15.3

-3.2

Leather products*

-33.5

-14.7

Miscellaneous manufactures

-3.5

-13.5

Wood and wood products

-1.5

-10.1

 

Note: * - new sectors in the 1994-based series 
 
1/ - Less than 0.1 percent decrease.

Sectors are ranked according to their contribution to the overall 1994-based December 2003 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.


Source:   National Statistics Office
                 Manila, Philippines

  Manufacturing (MISSI)

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