Monthly Integrated Survey of Selected Industries : July 2003

25 September 2003

 

Total manufacturing July 2003 June 2003
  Year-on-Year Growth  
      Production Index  
            Value(VaPI) 12.9 6.6r
            Volume(VoPI) 4.4 -1.5r
      Net Sales Index    
            Value 9.4 7.6r
            Volume 0.6 -1.8r
      Producers Price Index 8.2 8.1r
  Average Capacity Utilization 78.8 78.5r

·  Value of Production Index (VaPI) jumps in July 2003

Value of Production Index (VaPI) of the manufacturing industry went up by 12.9 percent in July 2003 compared with year-ago figure, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Fifteen (15) sectors which exhibited double-digit increases largely contributed to the expansion in production: basic metals, machinery excluding electrical, wood and wood products, miscellaneous manufactures, petroleum products, textile, nonmetallic mineral products, chemical products, food manufacturing and rubber products (see Table 1-A).

On a month-on-month comparison, VaPI recovered with a 1.9 percent improvement in July 2003 from its (revised) 0.6 percent drop in June 2003. Only four (4) sectors posted double-digit increases, as follows: leather products, tobacco, electrical machinery and rubber products (see Table 1-A).

·  Volume of Production Index (VoPI) picks up

Volume of Production Index (VoPI) stepped up with a growth of 4.4 percent compared with year-ago figure from a (revised) 1.5 percent decrease in June 2003. This was brought about by basic metals which expanded by 130.8 percent, followed by other sectors which also posted significant increases, namely: wood and wood products, machinery excluding electrical, rubber products, textile, nonmetallic mineral products and miscellaneous manufactures (see Table 1-B).

On a monthly basis, VoPI grew by a slim 0.7 percent in July 2003. Major contributors to the increase were leather products, tobacco and rubber products (see Annex 1-B).

 

·  Value of Net Sales gains further

Value of Net Sales in July 2003 continued to pick up at 9.4 percent over the year ago figure. Sectors significantly contributing to the improved sales performance were the following: machinery excluding electrical, basic metals, textile, petroleum products, nonmetallic mineral products, food manufacturing, footwear and wearing apparel and chemical products (see Table 2-A).

On a month-on-month basis, Value of Net Sales likewise increased by 0.8 percent in July 2003. Significant increments were observed in the following sectors: electrical machinery, basic metals and textile (see Table 2-A).

 

·  Net Sales Volume moves up at slower rate

Net Sales Volume grew at a slower rate of 0.6 percent in July 2003 compared to year-ago figure. Sectors that showed double-digit increases were machinery excluding electrical, wood and wood products, textile, basic metals and nonmetallic mineral products(see Table 2-B).

Though Volume of Net Sales declined compared to the previous month, the decrease was very minimal. Double-digit increases were reported by sectors: textile, basic metals and electrical machinery. On the other hand, double-digit decreases were exhibited by beverage and footwear and wearing apparel sectors. (see Table 2-B).

·  Producer's Price Index (PPI) shows increase

Producer’s Price Index (PPI) for total manufacturing on a year-on-year basis reflected an increment of 8.2 percent in July 2003. Chemical products led all sectors with an increase of 20.1 percent. Other sectors that posted double-digit increases were: paper and paper products, electrical machinery, petroleum products, footwear and wearing apparel, leather products and (see Table 5).

On a monthly basis, PPI for total manufacturing likewise posted an increase, although at a slower rate of 1.2 percent in July 2003. Sectors that contributed to the increase were: electrical machinery, nonmetallic mineral products, food manufacturing, fabricated metal products, transport equipment and basic metals (see Table 5).

·  Capacity Utilization

Average capacity utilization in July 2003 for total manufacturing was estimated at 78.8 percent. Sectors that posted more than 80% capacity utilization rate were the following: machinery excluding electrical, miscellaneous manufactures, footwear and wearing apparel, electrical machinery, paper and paper products, petroleum products and textile (see Table 6).

The proportion of responding establishments that operated at full capacity (90%-100%) in July 2003 was 15.9 percent. About 48.3 percent of the responding establishments operated at 70%-89% capacity and 35.8 percent of the establishments operated below 70% capacity.

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

(In percent)

            Capacity Utilization            

         1994-based         

Below 50 percent

12.2

50 percent - 59 percent

7.9

60 percent - 69 percent

15.7

70 percent - 79 percent

18.2

80 percent - 89 percent

30.1

90 percent - 100 percent

15.9

 

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

·  Response Rate

The response rate for July 2003 is 88.3 percent, which corresponds to the retrieval of 491 sample establishments’ reports (see Table 7).

Response Rates for Total Manufacturing
(In percent)

          July 2003          

          June 2003          
(revised)

88.3

94.8

 

·  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, JUNE – JULY 2003
(1994 =100)

                            Gainers                            

          Year-on-Year Growth (percent)          

July 2003

June 2003
(revised)

Basic metals

148.1

31.9

Petroleum products

21.6

15.5

Food manufacturing

14.1

13.1

Chemical products

16.4

22.8

Electrical machinery

9.5

-10.9

Machinery, excluding electrical*

51.1

47.0

Textile

21.2

20.2

Nonmetallic mineral products

17.8

3.0

Wood and wood products

26.0

43.0

Miscellaneous manufactures

22.2

24.8

Paper and paper products

9.8

13.2

Footwear and wearing apparel*

2.7

16.1

Rubber products

13.1

2.6

Furniture and fixtures

5.8

4.3

Publishing and printing*

0.0

3.3

 

Losers

          Year-on-Year Growth (percent)          

July 2003

June 2003
(revised)

Tobacco

-61.9

-67.7

Transport equipment

-11.7

-10.4

Beverage

-5.9

0.2

Fabricated metal products*

-12.9

-15.1

Leather products*

-24.8

-3.8

 

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

                            Gainers                            

      Month-on-Month Growth (percent)      

July 2003

June 2003
(revised)

Electrical machinery

14.2

6.9

Tobacco

16.3

-13.9

Transport equipment

7.0

-3.6

Petroleum products

3.1

-10.7

Chemical products

1.5

8.6

Basic metals

2.3

-2.4

Rubber products

11.4

-12.4

Leather products*

42.0

-5.1

Textile

1.9

-4.8

Miscellaneous manufactures

3.4

9.2

Machinery, excluding electrical*

0.2

0.3

 

Losers

      Month-on-Month Growth (percent)      

July 2003

June 2003
(revised)

Beverage

-14.8

-5.5

Food manufacturing

-1.5

1.9

Nonmetallic mineral products

-6.3

1.2

Paper and paper products

-8.2

-1.6

Fabricated metal products*

-8.3

5.3

Wood and wood products

-10.8

0.2

Furniture and fixtures

-7.2

6.4

Footwear and wearing apparel*

-1.1

3.2

Publishing and printing*

-1.8

-14.3

 

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

Sectors are ranked according to their contribution to the overall 1994-based July 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, JUNE – JULY 2003
(1994 = 100)

                            Gainers                            

          Year-on-Year Growth (percent)          

July 2003

June 2003<
(revised)

Basic metals

130.8

23.0

Food manufacturing

8.4

5.3

Petroleum products

5.1

-0.7

Machinery, excluding electrical*

49.3

46.2

Nonmetallic mineral products

18.3

9.7

Wood and wood products

58.7

78.8

Textile

19.7

15.3

Miscellaneous manufactures

15.8

17.8

Rubber products

20.7

9.3

Furniture and fixtures

2.1

-3.3

Publishing and printing*

0.0

3.3

 

Losers

          Year-on-Year Growth (percent)          

July 2003

June 2003
(revised)

Tobacco

-61.9

-67.7

Transport equipment

-12.5

-12.5

Beverage

-9.4

-3.3

Chemical products

-3.1

0.9

Footwear and wearing apparel*

-8.0

-0.8

Fabricated metal products*

-14.6

-16.1

Paper and paper products

-8.3

-5.7

Electrical machinery

-6.1

-20.5

Leather products*

-32.0

-13.4

 

TABLE 1-B. VOLUME OF PRODUCTION INDEX, JUNE – JULY 2003
(concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

July 2003

June 20033
(revised)

Tobacco

16.3

-13.9

Petroleum products

3.1

-10.7

Transport equipment

6.5

-3.3

Chemical products

2.9

8.2

Textile

4.6

-4.9

Basic metals

2.2

-2.2

Electrical machinery

7.9

7.2

Rubber products

11.6

-6.4

Footwear and wearing apparel*

1.3

4.4

Leather products*

42.0

-4.3

Miscellaneous manufactures

3.4

8.7

Machinery, excluding electrical*

0.2

0.3

 

Losers

          Month-on-Month Growth (percent)          

July 2003

June 2003
(revised)

Beverage

-14.9

-5.3

Food manufacturing

-2.4

1.7

Nonmetallic mineral products

-10.2

1.1

Fabricated metal products*

-9.0

5.3

Paper and paper products

-8.2

-2.2

Wood and wood products

-10.2

-0.6

Furniture and fixtures

-7.4

6.0

Publishing and printing*

-1.8

-14.3

 

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

Sectors are ranked according to their contribution to the overall 1994-based July 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, JUNE - JULY 2003
(1994=100)

                            Gainers                            

          Year-on-Year Growth (percent)          

July 2003

June 2003
(revised)

Food manufacturing

15.5

12.3

Petroleum products

22.6

22.6

Basic metals

34.8

33.4

Chemical products

13.5

22.9

Machinery, excluding electrical*

70.6

65.2

Textile

27.4

11.7

nonmetallic mineral products

22.1

-11.7

Footwear and wearing apparel*

13.8

39.3

Miscellaneous manufactures

9.8

11.1

Wood and wood products

7.9

-0.9

Furniture and fixtures

3.9

1.3

Publishing and printing*

0.5

-0.8

 

Losers

          Year-on-Year Growth (percent)          

July 2003

June 2003
(revised)

Electrical machinery

-10.9

-26.5

Tobacco

-38.4

-33.5

Transport equipment

-15.4

-8.0

Beverage

-4.7

-6.3

Fabricated metal products*

-9.2

-18.8

Paper and paper products

-2.9

2.0

Rubber products

-7.0

-8.8

Leather products*

-11.0

21.5

 

TABLE 2-A. VALUE OF NET SALES, JUNE – JULY 2003 (concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

July 2003

June 2003
(revised)

Electrical machinery

20.9

-12.6

Basic metals

17.1

16.8

Textile

15.3

-1.6

nonmetallic mineral products

3.2

-2.4

Miscellaneous manufactures

5.6

2.5

Publishing and printing*

2.0

-11.2

Wood and wood products

1.5

5.2

 

Losers

      Month-on-Month Growth (percent)      

July 2003

June 2003
(revised)

Beverage

-23.9

-0.4

Footwear and wearing apparel*

-12.4

-8.9

Food manufacturing

-2.0

2.7

Chemical products

-2.7

9.3

Petroleum products

-2.1

-4.4

Tobacco

-6.7

-4.6

Transport equipment

-2.3

-12.2

Paper and paper products

-5.8

1.5

Fabricated metal products*

-2.7

4.2

Machinery, excluding electrical*

-2.4

0.2

Furniture and fixtures

-4.3

-4.4

Rubber products

-1.0

-3.1

Leather products*

-1.9

54.9

 

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

Sectors are ranked according to their contribution to the overall 1994-based July 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, JUNE – JULY 2003
(1994=100)

                            Gainers                            

          Year-on-Year Growth (percent)          

July 2003

June 2003
(revised)

Food manufacturing

9.8

4.6

Basic metals

25.4

24.4

Machinery, excluding electrical*

68.5

64.3

Textile

25.8

7.2

nonmetallic mineral products

22.5

-5.9

Petroleum products

6.0

5.4

Wood and wood products

35.9

24.0

Footwear and wearing apparel*

2.1

19.0

Miscellaneous manufactures

4.0

4.9

Publishing and printing*

0.5

-0.8

Furniture and fixtures

0.2

-6.0

 

Losers

          Year-on-Year Growth (percent)          

July 2003

June 2003
(revised)

Electrical machinery

-23.5

-34.4

Tobacco

-38.5

-33.6

Transport equipment

-16.1

-10.2

Chemical products

-5.5

1.0

Beverage

-8.2

-9.5

Paper and paper products

-18.9

-15.0

Fabricated metal products*

-10.9

-19.7

Leather products*

-19.6

9.4

Rubber products

-0.7

-2.8

 

TABLE 2-B. VOLUME OF NET SALES, JUNE – JULY 2003(concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

July 2003

June 2003
(revised)

Electrical machinery

14.2

-12.4

Basic metals

17.0

17.0

Textile

18.5

-1.8

Miscellaneous manufactures

5.5

2.0

Publishing and printing*

2.0

-11.2

Wood and wood products

2.2

4.4

 

Losers

      Month-on-Month Growth (percent)      

July 2003

June 2003
(revised)

Beverage

-24.0

-0.2

Food manufacturing

-2.9

2.6

Footwear and wearing apparel*

-10.2

-7.8

Petroleum products

-2.1

-4.4

Tobacco

-6.7

-4.6

Transport equipment

-2.7

-12.0

Chemical products

-1.3

8.9

Paper and paper products

-5.8

0.8

Fabricated metal products*

-3.5

4.2

nonmetallic mineral products

-1.1

-2.5

Machinery, excluding electrical*

-2.4

0.2

Furniture and fixtures

-4.6

-4.8

Rubber products

-0.8

3.5

Leather products*

-1.9

56.2

 

Note: * - new sectors in the 1994-based series
Sectors are ranked according to their contribution to the overall 1994-based July 2003 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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