Monthly Integrated Survey of Selected Industries : April 1997

01 July 1997

 

VALUE OF PRODUCTION INDEX (VPI)

The value of production index (VPI) in key manufacturing enterprises increased by 10.8 percent to 438.5 in April 1997 from 395.9 a year ago. On a month-on-month comparison, VPI increased by 2.7 percent from 426.8 last March 1997. These figures were based on the results of the Survey of Key Enterprises in Manufacturing (SKEM), a regular monthly survey * of the National Statistics Office (NSO) aimed to provide flash indicators on the performance of key manufacturing enterprises.

Year-on-year increases were observed in 13 out of 16 major sectors. In terms of the relative shares to the positive component of the year-on-year growth of VPI, food manufacturing contributed 29.9 percent followed by petroleum with 27.1 percent; electrical machinery, 14.5 percent; and chemicals, 12.0 percent.

On the other hand, a double-digit year-on-year decrease in VPI was posted by transport equipment sector with a 53.0 percent share to the negative effect on the year-on-year performance. Textile and paper and paper products contributed 28.0 percent and 19.1 percent, respectively, to the downward pull on the year-on-year increase in VPI.

Double-digit month-on-month relative increases were observed in four (4) sectors. Electrical machinery posted the biggest share of 38.6 percent followed by wearing apparel, petroleum, and paper & paper products at 19.4 percent, 17.7 percent and 11.0 percent shares, respectively, to the VPI growth.

On the other hand, basic metals, chemicals, and transport equipment contributed 56.1 percent, 26.4 percent and 11.7 percent, respectively to the negative effect on the growth rate.

VALUE OF PRODUCTION INDEX


GAINERS OVER LAST MONTH MONTH-ON-MONTH CONTRIBUTION TO THE
(unweighted)GROWTH
OVERALL GROWTH RATE

 

Electrical Machinery                19.3%                  38.6%

Beverage                                      18.4%                   7.5%

Wearing apparel                     16.6%                  19.4%

Furniture & Fixtures                15.8%                   1.7%

Paper & Paper Products              15.0%                  11.0%

Tobacco                                          7.8%                   0.3%

Rubber Products                            5.2%                   1.5%

Petroleum                                            4.8%                  17.7%

Misc. Manufactures                        3.9%                   0.3%

Wood & Wood Products                 1.9%                   1.3%

Non-Metallic Mineral Products        1.0%                   0.6%

 

 


LOSERS OVER LAST MONTH        MONTH-ON-MONTH      CONTRIBUTION TO THE

(unweighted)GROWTH    OVERALL GROWTH RATE

 

Basic Metals                        - 15.6%                - 56.1%

Chemicals                              -  5.6%                - 26.4%

Transport Equipment            -  5.3%                - 11.7%

Textile                                      -  1.9%                -  5.1%

Food Manufacturing                 -  0.1%                -  0.7%

 

 


GAINERS OVER LAST YEAR         YEAR-ON-YEAR       CONTRIBUTION TO THE

(unweighted)GROWTH    OVERALL GROWTH RATE

 

Furniture & Fixtures               67.0%                   2.1%

Misc. Manufactures                 48.4%                   1.1%

Tobacco                                     34.9%                   0.4%

Food Manufacturing                 27.4%                  29.9%

Petroleum                                      25.2%                  27.1%

Electrical Machinery                  25.1%                  14.5%

Chemicals                                        24.2%                  12.0%

Wood & Wood Products           19.1%                   3.8%

Non-Metallic Mineral Products      11.5%                   2.2%

Basic Metals                                         11.1%                   4.2%

Beverage                                                7.6%                   0.9%

Rubber Products                                4.5%                   0.4%

Wearing Apparel                                  4.3%                   1.4%

 

 


LOSERS OVER LAST YEAR          YEAR-ON-YEAR       CONTRIBUTION TO THE

(unweighted)GROWTH    OVERALL GROWTH RATE

 

Transport Equipment               - 12.1%                - 53.0%

Textile                                            -  5.2%                - 28.0%

Paper & Paper Products            -  4.8%                - 19.1%

 

 


 

VOLUME OF PRODUCTION INDEX (VoPI)

The Volume of Production Index (VoPI) is derived from Value of Production Index (VPI) and Producer’s Price Index (PPI) with 1992 as the base year. The index is a measure of change in volume, net of inflation.

In April 1997, the VoPI of 147.5 for key manufacturing enterprises increased by 9.3 percent as compared with the April 1996 index of 135.0. Food Manufactures with a 34.9 percent increase registered the highest share of 40.7 percent to the year-on-year increase. Other sectors that posted notable double-digit increases were electrical machinery (with a 24.7 percent growth and a share of 15.3 percent to the total growth) and petroleum (with a 10.2 percent increase and a contribution of 11.8 percent)

On the other hand, notable year-on-year decreases were observed in 4 sectors. Paper & paper products posted the biggest decline of -30.8 percent from 122.2 to 84.6. Other sectors that posted double-digit declines and weighed down on the growth of the VoPI were wearing apparel (-10.7 percent), transport equipment (-10.5 percent) and textile (-8.9 percent).

On a month-on-month basis, the VoPI increased by 3.0 percent to 147.5 in April 1997 from 143.2 in March 1997. Electrical machinery posted the highest increase of 19.2 percent which represented 39.2 percent of the positive component of the month-on-month growth. Wearing apparel grew by 16.6 percent and had a 19.7 percent share of the VoPI growth. The 4.8 percent growth of petroleum had a corresponding share to total growth of 18.0 percent.

On the other hand, basic metals posted the biggest decline of -13.7 percent which contributed 52.1 percent share of the negative effect on overall growth followed by chemicals with a decline of -6.2 percent and a share of 30.7 percent.

The April 1997 SKEM covered 422 sample establishments located mostly in Metro Manila and engaged primarily in manufacturing. This report is based on a response rate of 84.6 percent.

VOLUME OF PRODUCTION INDEX


GAINERS OVER LAST MONTH       MONTH-ON-MONTH      CONTRIBUTION TO THE

(unweighted)GROWTH    OVERALL GROWTH RATE

 

Electrical Machinery               19.2%                  39.2%

Beverage                                     18.4%                   7.6%

Wearing Apparel                        16.6%                  19.7%

Furniture & Fixtures                  15.8%                   1.7%

Paper & Paper Products             11.3%                   8.4%

Tobacco                                              7.8%                   0.3%

Rubber Products                            5.2%                   1.5%

Petroleum                                          4.8%                  18.0%

Other Mfg. Industries                   3.7%                   0.3%

Wood & Wood Products                1.4%                   1.0%

Non-Metallic Mineral Products       0.7%                   0.5%

Food Manufacturing                             0.5%                   1.8%

 


LOSERS OVER LAST MONTH        MONTH-ON-MONTH      CONTRIBUTION TO THE

(unweighted)GROWTH    OVERALL GROWTH RATE

 

Basic Metals                            - 13.7%                 - 52.1%

Chemicals                                    -  6.2%                 - 30.7%

Transport Equipment               -  5.7%                 - 13.1%

Textile                           -  1.4%                 -  4.1%

 


GAINERS OVER LAST YEAR          YEAR-ON-YEAR      CONTRIBUTION TO THE

(unweighted)GROWTH    OVERALL GROWTH RATE

 

Furniture & Fixtures               65.4%                   2.2%

Other Mfg. Industries              48.2%                   1.2%

Food Manufacturing                 34.9%                  40.7%

Electrical Machinery                  24.7%                  15.3%

Basic Metals                                   22.4%                   9.1%

Wood & Wood Products               22.0%                   4.7%

Beverage                                             20.7%                   2.6%

Chemicals                                          18.3%                   9.7%

Tobacco                                              12.8%                   0.1%

Petroleum                                             10.2%                  11.8%

Rubber Products                                   8.9%                   0.8%

Non-Metallic Mineral Products       8.7%                   1.8%

 


LOSERS OVER LAST YEAR           YEAR-ON-YEAR      CONTRIBUTION TO THE

(unweighted)GROWTH    OVERALL GROWTH RATE

 

Paper & Paper Products            - 30.8%                - 43.0%

Wearing Apparel                         - 10.7%                - 23.9%

Transport Equipment               - 10.5%                - 16.1%

Textile                                           -  8.9%                - 17.0%

 

* - The sampling design has not been revised.

 


 

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