Monthly Integrated Survey of Selected Industries : June 1997

21 August 1997

 

VALUE OF PRODUCTION INDEX (VPI)

The VPI in key manufacturing enterprises decreased by -5.3 percent to 433.8 in June 1997 from 458.3 a year ago. On a month-on-month comparison, the VPI slightly increased by 0.6 percent from 431.2 last May 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 aimed to provide flash indicators on the performance of key manufacturing enterprises.

·  Year-on-year

Decreases were observed in 10 out of 16 major sectors. Petroleum products declined by -9.4 percent which was equivalent to a 22.3 percent contribution to the negative effects on the year-on-year growth of VPI. Food manufacturing (-8.0% decline) contributed 19.3 percent while textile (-26.2%) and transport equipment (-19.6 %) had contributions of 16.7 percent and 10.0 percent respectively.

On the other hand, electrical machinery posted a 13.8 percent growth rate and a 50.2 percent share to the positive component on the year-on-year performance. Non-metallic mineral products (27.3% growth) contributed a share of 32.7 percent followed by beverage (14.3%) with a share of 10.6 percent .

·  Month-on-month

Increases were observed in seven (7) sectors. Chemicals increased by 17.3 percent and posted the biggest share of 44.1 percent to the positive component of month-on-month growth. This was followed by basic metals (10.6% increase), food manufacturing (3.1%) and paper & paper products (9.7%) with contributions of 20.7 percent, 17.1 percent and 10.5 percent, respectively, to the positive component of VPI growth.

On the other hand, textile (-6.7 % decline), wearing apparel (-4.3%), petroleum products (-1.1%) and transport equipment (-5.2%) contributed 29.8 percent, 22.7 percent, 18.7 percent and 18.6 percent, respectively, to the negative effect on the growth rate.

VALUE OF PRODUCTION INDEX


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

                              (unweighted) GROWTH   OVERALL GROWTH RATE

Non-Metallic Mineral Prods.        27.3%                 32.7%

Misc. Manufactures                     27.0%                  4.0%

Beverage                                       14.3%                 10.6%

Electrical Machinery                    13.8%                 50.2%

Furniture & Fixtures                    11.5%                  2.2%

Tobacco                                         3.8%                  0.2%

 

 

 


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

                              (unweighted)GROWTH    OVERALL GROWTH RATE

 

Textile                                        -26.2%                  -16.7%

Transport Equipment                 -19.6%                  -10.0%

Wearing Apparel                        -12.9%                  - 9.6%

Paper & Paper Products            -12.8%                  - 6.0%

Wood & Wood Products            -12.7%                  - 5.5%

Petroleum Products                    - 9.4%                  -22.3%

Food Manufacturing                   - 8.0%                  -19.3%

Rubber Products                         - 7.5%                  - 1.3%

Basic Metals                              - 6.0%                  - 5.0%

Chemicals                                   - 3.9%                  - 4.3%

 

 

 


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

                         (unweighted) GROWTH       OVERALL GROWTH RATE

 

Chemicals                                   17.3%                       44.1%

Basic Metals                               10.6%                       20.7%

Paper & Paper Products              9.7%                       10.5%

Rubber Products                          8.4%                        3.5%

Food Manufacturing                    3.1%                       17.1%

Wood & Wood Products             2.7%                        2.8%

Electrical Machinery                  0.4%                        1.3%

 

 


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

                          (unweighted) GROWTH      OVERALL GROWTH RATE

 

Textile                                         - 6.7%                   -29.8%

Transport Equipment                 - 5.2%                   -18.6%

Tobacco                                       - 5.2%                   - 0.8%

Wearing Apparel                         - 4.3%                   -22.7%

Beverage                                      - 4.1%                   - 7.4%

Misc. Manufactures                    - 1.8%                   - 0.6%

Petroleum Products                     - 1.1%                   -18.7%

Furniture & Fixtures                    - 0.8%                   - 0.4%

Non-Metallic Mineral Prods        - 0.3%                   - 0.9%

 

 


 

 

VOLUME OF PRODUCTION INDEX (VoPI)

The VoPI is derived from VPI and Producer's Price Index with 1992 as the base year. This index is a measure of change in volume, net of inflation.

·  Year-on-year

In June 1997 the VoPI of 147.2 for key enterprises in manufacturing decreased by 5.1 percent. Double-digit decreases were observed in seven sectors. Petroleum refineries declined by -16.5 percent and this was equivalent to the biggest share of 33.4 percent to the year-on-year decline in VoPI. This was followed by the 29.9 percent decrease in the textile from 97.2 to 68.2 which translated to a 16.3 percent contribution to the negative component of VoPI growth. Other sectors which significantly contributed to the negative growth component were wearing apparel (-23.5% decline) with a 14.9 percent contribution and paper and paper products (-25.7%) with 10.2 percent.

Meanwhile, five sectors posted double-digit annual increases. Electrical machinery grew by 14.9 percent which represented the biggest share of 43.2 percent of the positive component of VoPI growth. Non-metallic mineral products followed with a 25.0 percent gain and a 23.8 percent contribution; beverage with a 28.2 percent increase and a 16.6 percent contribution; and food manufactures with a 2.2 percent uptick and an 11.8 percent contribution.

·  Month-on-month

On a monthly basis, the VoPI increased by 0.8 percent from 146.0 in May 1997. Chemicals increased by 16.4 percent and contributed the biggest share of 39.0 percent to the rise in VoPI. Other sectors that posted gains and double-digit shares to VoPI growth were basic metals with an 11.6 percent increase and a 21.1 percent share; food manufacturing with a 3.9 percent increase and a 20.5 percent share; and paper and paper products with a 10.8 percent increase and a 10.9 percent share.

However, eight sectors registered slight month-on-month decreases. Textile decreased by

-6.6 percent which represented a 32.4 percent share to the negative component of the VoPI performance. Wearing apparel declined by -4.4 percent contributing a share of 25.2 percent. The -4.8 and -0.7 percent decreases of transport equipment and petroleum had corresponding shares of 18.6 percent and 12.1 percent.

The June 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 85.5 percent.

VOLUME OF PRODUCTION INDEX


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

                              (unweighted)GROWTH    OVERALL GROWTH RATE    

Beverage                                         28.2%                 16.6%

Other Mfg. Industries                    25.5%                  3.0%

Non-Metallic Mineral Prods.         25.0%                 23.8%

Electrical Machinery                      14.9%                 43.2%

Furniture & Fixtures                      10.4%                  1.6%

Food Manufacturing                       2.2%                  11.8%

 

 

 


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

                              (unweighted)GROWTH    OVERALL GROWTH RATE    

Textile                                          -29.9%                -16.3%

Paper & Paper Products              -25.7%                -10.2%

Wearing Apparel                          -23.5%                -14.9%

Transport Equipment                   -17.5%                - 7.6%

Petroleum                                      -16.5%                -33.4%

Tobacco                                         -13.3%                - 0.3%

Wood & Wood Products               -11.7%                - 4.4%

Chemicals                                      - 7.6%                - 7.1%

Basic Metals                                 - 7.4%                - 5.3%

Rubber                                           - 3.7%                - 0.6%

 

 


 

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

                              (unweighted)GROWTH    OVERALL GROWTH RATE

 

Chemicals                                     16.4%                 39.0%

Basic Metals                                 11.6%                 21.1%

Paper & Paper Products                10.8%                 10.9%

Rubber Products                              8.4%                  3.3%

Food Manufacturing                        3.9%                 20.5%

Wood & Wood Products                  2.6%                  2.4%

Non-Metallic Mineral Prods.          1.8%                  1.6%

Electrical Machinery                        0.4%                  1.2%


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

                              (unweighted)GROWTH    OVERALL GROWTH RATE

 

Textile                                        - 6.6%                 -32.4%

Other Mfg. Industries                - 5.5%                 - 2.2%

Tobacco                                      - 5.2%                 - 0.9%

Transport Equipment                - 4.8%                 -18.6%

Wearing Apparel                       - 4.4%                 -25.2%

Beverage                                    - 4.1%                 - 8.1%

Furniture & Fixtures                 - 0.8%                 - 0.4%

Petroleum                                 - 0.7%                 -12.1%

 

 


 

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