Monthly Integrated Survey of Selected Industries : June 2004

25 August 2004

 

Total Manufacturing

      June 2004      

      May 2004      

  Year-on-Year Growth

 

      Production Index

 

            Value(VaPI)

8.5

3.8r

            Volume(VoPI)

2.7

-1.5r

      Net Sales Index

 

 

            Value

11.6

8.1r

            Volume

1.2

-1.6r

      Producer�s Price Index

5.7

5.4r

  Average Capacity Utilization          

79.6

79.5r

 

                          r -revised

·  Value of Production Index (VaPI) posts higher growth

In June 2004, the Value of Production Index (VaPI) for the manufacturing industry on a year-on-year basis gained 8.5 percent from a (revised) 3.8 percent increase posted during the previous month, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Eight (8) sectors posted double-digit increases, as follows: rubber products, electrical machinery, furniture and fixtures, fabricated metal products, machinery excluding electrical, transport equipment, beverage and publishing and printing. Refer to Tables 1-A and 1.

On a month-on-month basis, VaPI continued to rise as it posted a 4.1 percent increase in June 2004. Sectors which significantly contributed to the increase were leather products, electrical machinery and machinery excluding electrical. Refer to Tables 1-A and 1.

·  Volume of Production Index (VoPI) picks up

Volume of Production Index (VoPI) surged by 2.7 percent in June 2004 following a slowdown since September 2003. Significant expansion in output was noted in the following sectors: rubber products, electrical machinery, furniture and fixtures, beverage, fabricated metal products, publishing and printing and machinery excluding electrical. Refer to Tables 1-B and 2.

Month-on-month performance of VoPI continued to improve with a 3.9 percent gain in June 2004. Sectors with double-digit increases were leather products, electrical machinery and machinery excluding electrical. Refer to Tables 1-B and 2.

·  Value of Net Sales gains further

On a year-on-year basis, Value of Net Sales continued its up trend with 11.6 percent increase in June 2004 compared to the previous month�s (revised) growth rate of 8.1 percent. Leather products led all sectors, which increased by 145.7 percent. Other contributors were sectors with double-digit increases, as follows: basic metals, rubber products, electrical machinery, textile, non-metallic mineral products, transport equipment and machinery excluding electrical. Refer to Tables 2-A and 3.

Value of Net Sales, on a monthly basis, exhibited a growth of 3.0 percent in June 2004. Sectors with double-digit increases were leather products, machinery excluding electrical, transport equipment, chemical products and tobacco. Refer to Tables 2-A and 3.

·  Volume of Net Sales improves

Volume of Net Sales, on a year-on-year basis, rose by 1.2 percent in June 2004. Leather products topped all sectors, followed by electrical machinery, rubber products, furniture and fixtures, beverage and textile. Refer to Tables 2-B and 4.

On a month-on-month basis, Volume of Net Sales increased by 2.3 percent in June 2004. This was due to the notable sales performance of the following sectors: leather products, machinery excluding electrical, chemical products, transport equipment and tobacco. Refer to Tables 2-B and 4.

·  Producer�s Price Index (PPI) maintains increasing trend

The Producer�s Price Index (PPI) for total manufacturing on a year-on-year basis improved by 5.7 percent in June 2004. Sectors with double-digit increases were footwear and wearing apparel, basic metals, petroleum products, food manufacturing and non-metallic mineral products. Refer to Table 5..

On a monthly basis, PPI for total manufacturing increased by a mere 0.2 percent in June 2004. Sectors with significant contributions to the increment were petroleum products, furniture and fixtures, non-metallic mineral products, and transport equipment. Refer to Table 5.

·  Capacity Utilization

Average capacity utilization in June 2004 for total manufacturing was estimated at 79.6 percent. Sectors that posted more than 80% capacity utilization rates were the following: machinery excluding electrical, electrical machinery, leather products, miscellaneous manufactures, petroleum products, paper and paper products, rubber products, chemical products, basic metals and food manufacturing. Refer to Table 6..

The proportion of establishments that operated at full capacity (90%-100%) in June 2004 was 17.9 percent. Nearly half or 46.9 percent of the establishments operated at 70%-89% capacity and 35.2 percent of the establishments operated below 70% capacity.

Distribution of Key Manufacturing Establishments by Capacity Utilization
Total Manufacturing, June 2004

(In percent)

            Capacity Utilization            

         1994-based         

Below 50 percent

11.1

50 percent - 59 percent

8.1

60 percent - 69 percent

16.0

70 percent - 79 percent

19.9

80 percent - 89 percent

27.0

90 percent - 100 percent

17.9

 

·  Response Rate

The response rate for June 2004 is 88.5 percent, which corresponds to the retrieval of 476 sample establishments� reports. Refer to Table 7.

Response Rates for Total Manufacturing
(In percent)

          June 2004          

          May 2004          
(revised)

88.5

95.4

 

·  Technical Notes

Starting 2004, weights for the Producer�s Price Index (PPI) are based from the results of the 2000 Census of Philippine Business and Industry (CPBI) for establishments with average total employment (ATE) of 20 and over. Reference year for the 2000 CPBI is 1999 (Refer to Press Release on Revision of 2004 PPI weights).

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, May-June 2004
(1994 =100)

                            Gainers                            

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

Electrical machinery

29.0

18.0

Chemical products

9.3

16.1

Transport equipment

15.9

15.8

Beverage

15.0

6.2

Fabricated metal products*

21.3

24.8

Rubber products

48.1

31.9

Nonmetallic mineral products

9.3

11.7

Food manufacturing

1.4

11.4

Machinery excluding electrical*

17.3

2.1

Furniture and fixtures

24.0

21.7

Publishing and printing*

12.2

-4.2

Textile

2.5

-2.2

 

Losers

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

Footwear and wearing apparel*

-13.5

-7.6

Basic metals

-6.2

-8.5

Tobacco

-9.2

-17.0

Wood and wood products

-13.1

-15.5

Leather products*

-89.8

-92.0

Paper and paper products

-5.4

-13.5

Petroleum products

-0.5

-17.0

Miscellaneous manufactures

-6.0

1.8

 

TABLE 1-A. VALUE OF PRODUCTION INDEX, May - June 2004
(concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

June 2004

May 2004
(revised)

Electrical machinery

17.2

-10.0

Petroleum products

7.1

9.4

Chemical products

2.3

1.1

Machinery excluding electrical*

15.2

8.8

Paper and paper products

7.7

-3.3

Beverage

2.3

2.0

Miscellaneous manufactures

6.6

11.1

Fabricated metal products*

2.4

10.1

Furniture and fixtures

6.1

19.3

Wood and wood products

3.1

4.3

Leather products*

21.9

21.2

Publishing and printing*

2.3

-7.7

Textile

0.4

2.0

Basic metals

0.1

-1.5

 

Losers

      Month-on-Month Growth (percent)      

June 2004

May 2004
(revised)

Food manufacturing

-6.8

5.9

Transport equipments

-3.4

32.6

Tobacco

-5.9

18.8

Footwear and wearing apparel*

-3.4

5.9

Nonmetallic mineral products

-1.0

14.9

Rubber products

-1.6

8.3

 

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

Sectors are ranked according to their contribution to the overall 1994-based June 2004 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, May - June 2004
(1994 = 100)

                            Gainers                            

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

Electrical machinery

37.5

25.0

Beverage

21.2

12.1

Transport equipments

9.7

11.8

Chemical products

4.2

9.4

Fabricated metal products*

19.3

22.7

Rubber products

40.6

33.3

Furniture and fixtures

30.9

30.5

Publishing and printing*

12.2

-4.2

Machinery excluding electrical*

10.4

-3.8

Paper and paper products

0.5

-8.9

 

Losers

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

Petroleum products

-22.8

-32.4

Food manufacturing

-15.1

-6.6

Basic metals

-28.9

-30.4

Footwear and wearing apparel*

-37.7

-32.6

Tobacco

-13.6

-21.0

Textile

-5.8

-10.5

Nonmetallic mineral products

-3.7

0.4

Leather products*

-90.0

-92.1

Wood and wood products

-6.9

-9.4

Miscellaneous manufactures

-1.4

0.9

 

TABLE 1-B. VOLUME OF PRODUCTION INDEX, May - June 2004
(concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

June 2004

May 2004
(revised)

Electrical machinery

18.6

-6.0

Chemical products

3.1

-1.8

Petroleum products

2.0

4.5

Machinery excluding electrical*

15.2

8.8

Paper and paper products

7.8

-5.1

Beverage

2.3

2.0

Miscellaneous manufactures

5.7

11.3

Fabricated metal products*

2.4

10.1

Leather products*

21.9

21.2

Publishing and printing*

2.3

-7.7

Furniture and fixtures

4.1

19.4

Wood and wood products

2.2

3.7

Textile

0.1

3.6

 

Losers

          Month-on-Month Growth (percent)          

June 2004

May 2004
(revised)

Food manufacturing

-7.1

5.2

Transport equipments

-5.1

32.9

Tobacco

-5.9

18.8

Footwear and wearing apparel*

-3.4

6.6

Nonmetallic mineral products

-2.9

15.1

Basic metals

-0.2

-3.0

Rubber products

-1.3

8.5

 

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

Sectors are ranked according to their contribution to the overall 1994-based June 2004 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, May - June 2004
(1994=100)

                            Gainers                            

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

Electrical machinery

28.7

22.2

Basic metals

45.0

56.1

Food manufacturing

9.0

15.6

Chemical products

9.0

7.7

Transport equipments

13.6

-11.6

Textile

21.0

14.0

Non-metallic mineral products

14.9

10.3

Petroleum products

2.6

-4.6

Beverage

5.7

-1.4

Rubber products

37.9

31.5

Leather products*

145.7

-7.8

Machinery excluding electrical*

10.5

-6.8

Fabricated metal products*

6.3

19.9

Publishing and printing*

8.3

-8.0

Tobacco

2.7

-11.6

Miscellaneous manufactures

6.3

13.6

Furniture and fixtures

9.8

2.4

 

Losers

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

Footwear and wearing apparel*

-24.6

-34.1

Wood and wood products

-13.5

-1.8

Paper and paper products

-6.4

-10.2

 

TABLE 2-A. VALUE OF NET SALES, May - June 2004 (concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

June 2004

May 2004
(revised)

Chemical products

11.3

-0.3

Transport equipments

12.8

7.3

Basic metals

8.4

3.5

Beverage

6.9

2.3

Petroleum products

2.8

-0.3

Tobacco

10.8

7.0

Machinery excluding electrical*

19.1

-6.4

Textile

4.4

8.4

Paper and paper products

5.7

1.2

Publishing and printing*

4.2

4.1

Leather products*

21.4

18.6

Nonmetallic mineral products

0.8

-12.7

Furniture and fixtures

1.6

14.3

Rubber products

1.2

-3.8

 

Losers

      Month-on-Month Growth (percent)      

June 2004

May 2004
(revised)

Food manufacturing

-2.7

10.5

Electrical machinery

-3.4

-5.6

Footwear and wearing apparel*

-3.5

24.1

Fabricated metal products*

-7.6

-2.4

Wood and wood products

-8.5

1.3

Miscellaneous manufactures

-4.0

-4.0

 

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

Sectors are ranked according to their contribution to the overall 1994-based June 2004 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-B. VOLUME OF NET SALES, May - June 2004
(1994=100)

                            Gainers                            

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

Electrical machinery

37.2

29.5

Beverage

11.5

4.1

Basic metals

9.8

18.7

Chemical products

4.0

1.5

Transport equipments

7.5

-14.6

Textile

11.2

4.3

Rubber products

30.9

32.9

Leather products*

140.8

-8.8

Publishing and printing*

8.3

-8.0

Furniture and fixtures

16.0

9.7

Fabricated metal products*

4.6

17.9

Miscellaneous manufactures

5.5

12.5

Machinery excluding electrical*

4.1

-12.3

Nonmetallic mineral products

1.1

-0.8

 

Losers

          Year-on-Year Growth (percent)          

June 2004

May 2004
(revised)

     

Petroleum products

-20.4

-22.3

Footwear and wearing apparel*

-45.6

-52.0

Food manufacturing

-8.8

-3.1

Wood and wood products

-7.3

5.4

Tobacco

-2.3

-15.9

Paper and paper products

-0.6

-5.4

 

TABLE 2-B. VOLUME OF NET SALES, May - June 2004 (concluded)
(1994=100)

                            Gainers                            

      Month-on-Month Growth (percent)      

June 2004

May 2004
(revised)

Chemical products

12.2

-3.2

Transport equipments

10.8

7.5

Basic metals

8.2

1.9

Beverage

6.9

2.3

Tobacco

10.8

7.0

Machinery excluding electrical*

19.1

-6.4

Textile

4.1

10.1

Paper and paper products

5.8

-0.7

Publishing and printing*

4.2

4.1

Leather products*

21.4

18.6

Rubber products

1.5

-3.7

 

Losers

      Month-on-Month Growth (percent)      

June 2004

May 2004
(revised)

Food manufacturing

-3.0

9.8

Petroleum products

-2.1

-4.8

Electrical machinery

-2.3

-1.4

Footwear and wearing apparel*

-3.5

24.9

Fabricated metal products*

-7.6

-2.4

Wood and wood products

-9.3

0.7

Miscellaneous manufactures

-4.8

-3.9

Nonmetallic mineral products

-1.0

-12.6

Furniture and fixtures

-0.3

14.3

 

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

Sectors are ranked according to their contribution to the overall 1994-based June 2004 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.


Source:   National Statistics Office
              Manila, Philippines

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