r - revised                    

 

•     Value of Production maintains an upward trend in September 2012

Value of Production Index (VaPI) of the manufacturing industry recorded a year-on-year growth of 6.7 percent in September 2012, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Five major sectors accounted for the significant growth in production, namely: machinery except electrical (28.0%), transport equipment (27.5%), footwear and wearing apparel (24.5%), food manufacturing (20.7%) and basic metals (12.4%). Refer to Tables 1-A and 1.

On a monthly basis, VaPI posted a modest growth of 1.0 percent in September 2012. Three major sectors exhibited two-digit increases in production values, namely: leather products (21.2%), beverages (21.2%), and basic metals (19.2%). Refer to Tables 1-A and 1.

 

•     Volume of Production increases in September 2012

Volume of Production Index (VoPI) continued to grow as it posted an annual increment of 8.0 percent in September 2012. This maybe attributed to the expansion in production output observed in 10 major sectors, with two-digit increases reported by the following: transport equipment (28.5%), footwear and wearing apparel (27.7%), machinery except electrical (27.4%), wood and wood products (21.4%), basic metals (18.8%), electrical machinery (15.7%),food manufacturing (14.3%) and chemical products (11.1%).  Refer to Tables 1-B and 2.

Likewise, VoPI exhibited a month-on-month growth of 1.4 percent in September 2012 from a negative rate of 0.2 percent in the previous month. Twelve major sectors reported output growth, with two-digit increases in beverages (21.2%), leather products (21.2%) and basic metals  (19.2%). Refer to Tables 1-B and 2.

 

 

•     Value of Net Sales steps up in September 2012

Value of Net Sales Index (VaNSI) rebounded as it posted an annual increment of 2.3 percent in September 2012 from the 3.6 percent decline in the previous month. Eight of the 11 major sectors strongly influenced the increase in sales, namely: textiles (73.4%), footwear and wearing apparel (50.6%), publishing and printing (39.8%), non-metallic mineral products (38.4%), transport equipment (36.6%), machinery except electrical (23.5%), beverages (11.6%) and electrical machinery (11.0%). Refer to Tables 2-A and 3.

On a month-on-month comparison, VaNSI modestly expanded by 0.9 percent, a turnaround from its 1.9 percent slide in the last month. Four of the 12 major sectors significantly contributed to the increase, as follows: beverages (29.5%), furniture and fixtures (23.6%), basic metals (18.3%) and footwear and wearing apparel (10.2%). Refer to Tables 2-A and 3.

 

•     Volume of Net Sales likewise recovers

On a year-on-year basis, Volume of Net Sales Index (VoNSI) climbed 3.6 percent in September 2012. Textiles contributed significantly to the increase with 71.8 percent growth, followed by major sectors that registered two-digit growth in net sales volume, namely: footwear and wearing apparel (54.5%), non-metallic mineral products (42.0%), transport equipment (37.6%), publishing and printing (31.8%), machinery except electrical (22.9%), electrical machinery (22.1%), wood and wood products (18.5%) and beverages (11.5%). Refer to Tables 2-B and 4.

On a month-on-month change, VoNSI also expanded by 1.3 percent in September 2012 from a negative growth rate of 2.9 percent in the previous month. Sectors that influenced the increase were the following: beverages (29.5%), furniture and fixtures (25.5%), basic metals (18.4%) and footwear and wearing apparel (10.9%). Refer  to  Tables 2-B and 4.

 

 

•     Capacity Utilization in September 2012 is 83.3

Average capacity utilization in September 2012 for total manufacturing stood at 83.3 percent. Eleven of the 20 major sectors registered capacity utilization rates of 80 percent or more, namely:

• petroleum products (87.6%)
• basic metals (87.0%)
• food manufacturing (86.1%)
• electrical machinery (85.4%)
• machinery except electrical (84.4%)
• non-metallic mineral products (83.4%)
• chemical products (82.3%)
• rubber and plastic products (82.0%)
• paper and paper products (81.4%)
• miscellaneous manufactures (81.4%)
• wood and wood products (80.0%).

The proportion of establishments that operated at full capacity (90% to 100%) was 18.6 percent in September 2012.  About 57.8 percent of the establishments operated at 70% to 89% capacity while 23.6 percent of the establishments operated below 70% capacity. Refer to Table 6.

 

---

TECHNICAL NOTES

 

•     Introduction

The Monthly Integrated Survey of Selected Industries (MISSI) is one of the designated statistical activities undertaken by the National Statistics Office with the objective of providing flash indicators on the performance of growth-oriented industries in the manufacturing sector. The survey gathers monthly data on employment, compensation, production, net sales, inventories and capacity utilization.

Beginning with the January 2012 MISSI, the monthly report for the survey was released earlier, that is, 45 days after each reference month instead of the 55 days.

The indicators generated from the 2012 MISSI are Value of Production Index (VaPI), Volume of Production Index (VoPI), Value of Net Sales (VaNSI), and Volume of Net Sales (VoNSI). However, the VoPI and VoNSI are derived indicators utilizing the 2012 Producer Price Index as deflator.

 

•     Method of Index Computation

The MISSI utilizes the Laspeyres-type method of index computation where the weights are computed from the value of production of the Census of Philippine Business and Industry (CPBI).

For the 2012 MISSI index series with base year of 2000, the weights of the major sectors and sub-sectors were computed from the results of the 2000 CPBI for manufacturing establishments with average total employment of 20 and over. The weights are computed from the value of products sold plus change in inventories.

The formulas in the computation are as follows:

Value of Production Index (VaPI)

 

•     Industry Coverage

The industry coverage of the 2012 MISSI conforms with the amended 1994 PSIC groupings. There are 20 major sectors, as shown below, with 10 further disaggregated into sub-sectors.

 

•     Response Rate

The response rates for the September 2012 MISSI and PPS are 80.7 percent and 90.0 percent, respectively.  Refer to Tables 7 and 8.

 

                                                    r - revised

 

Data of non-responding 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, August – September 2012

   (2000 =100)

 

 

TABLE 1-A  Value of Production Index, August – September 2012

(2000 = 100) (concluded)

 

 

TABLE 1-B  Volume of Production Index, August – September 2012

(2000 = 100)

 

 

TABLE 1-B  Volume of Production Index, August – September 2012

(2000 = 100) (concluded)

 

 

 Note: 

 

TABLE 2-A  Value of Net Sales Index, August – September 2012

(2000 =100)

 

 

TABLE 2-A  Value of Net Sales Index, August – September 2012

(2000 = 100) (concluded)

 

 

 Note: 

 

TABLE 2-B  Volume of Net Sales Index, August – September 2012

(2000 = 100)

 

 

TABLE 2-B  Volume of Net Sales Index, August – September 2012

(2000 = 100) (concluded)

 

 

Note:

 

---