r - revised

 

• Value of Production Index accelerates in December 2013

Value of Production Index (VaPI) for the manufacturing moved faster posting a year-on-year increase of 21.4 percent in December 2013, as the country is recovering from the natural calamities that happened in the previous months, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Fourteen major industries mainly influenced the growth led by chemical products, reporting a consistent three-digit growth of 218.6 percent. The 11 other major industries that contributed to the significant performance of VaPI were furniture and fixtures (84.9%), leather products (51.2%), machinery except electrical (43.5%), tobacco products (33.9%), transport equipment (29.9%), electrical machinery (19.4%), fabricated metal products (16.5%), rubber and plastic products (15.4%), publishing and printing (12.8%), beverages (10.5%), and wood and wood products (10.0%). Refer to Tables 1-A and 1.

On a monthly basis, however, VaPI reflected a slower increment of 1.2 percent in December 2013. This was accounted for by nine major industries which recorded growths in VaPI, offsetting the decreases reported by 11 major industries. Refer to Tables 1-A and 1.

 

• Volume of Production Index expands in December 2013

Volume of Production Index (VoPI) likewise grew as it posted an annual increment of 26.5 percent in December 2013. This may be attributed to the constant expansion in production output registered by chemical products (230.6%) and furniture and fixtures (186.0%). Double-digit growths in VoPI were also recorded by seven other major industries, namely: machinery except electrical (60.1%), leather products (49.4%), tobacco products (44.3%), transport equipment (40.1%), rubber and plastic products (25.1%), fabricated metal products (20.7%), electrical machinery (15.5%). Refer to Tables 1-B and 2.

On a month-on-month comparison, VoPI reported a minimal increase of 0.7 percent in December 2013. This is brought about by the performance in production output of the following major industries: petroleum products (35.0%), footwear and wearing apparel (27.9%), and furniture and fixtures (12.6%).  Refer to Tables 1-B and 2.

 

 

• Value of Net Sales Index rises in December 2013

Value of Net Sales Index (VaNSI), continued to increase, showing an upward growth of 33.5 percent in December 2013. Fourteen major industries accounted for the growth in VaNSI led by chemical products and furniture and fixtures that posted the largest increase of 263.7 percent and 131.6 percent, respectively. Other major industries that exhibited two-digit increases were the following: leather products (39.5%), fabricated metal products (32.4%), machinery except electrical (25.9%), textiles (22.3%), publishing and printing (22.0%), petroleum products (17.4%), tobacco products (15.9%), rubber and plastic products (13.3%), transport equipment (12.8%), and wood and wood products (11.0%), and. Refer to Tables 2-A and 3.

VaNSI, on a month-on-month change, went up 3.9 percent in December 2013. Ten major industries reported a month-on-month increases in sales value, led by footwear and wearing apparel with 28.0 percent growth. Refer to Tables 2-A and 3.

 

• Volume of Net Sales Index remains robust

Volume of Net Sales Index (VoNSI) climbed 39.0 percent in December 2013. This was brought about by the three-digit growth recorded by chemical products and furniture and fixtures with an annual increase of 277.3 percent and 258.2 percent, respectively. Other eight major industries with double-digit increases also pulled-up the VoNSI, namely: machinery except electrical (40.5%), leather products (37.8%), fabricated metals (37.2%), tobacco products (25.0%), rubber and plastic products (22.8%), transport equipment (21.7%), textiles (20.2%), and publishing and printing (11.9%). Refer to Tables 2-B and 4.

On a month-on-month basis, VoNSI posted a slower increment of 3.4 percent in December 2013. Significant growth in production output was observed in the following major industries: footwear and wearing apparel (27.4%), publishing and printing (11.7%), and furniture and fixtures (10.0%), Refer  to  Tables 2-B and 4.

 

 

• Capacity Utilization

Average capacity utilization in December 2013 for total manufacturing was recorded at 83.4 percent, the same since October 2013. More than 50 percent or eleven of the 20 major industries registered capacity utilization rates of above 80 percent.  These are:

• petroleum products (88.5%)
• basic metals (87.6%)
• non-metallic mineral products (86.1%)
• food manufacturing (85.0%)
• machinery except electrical (84.6%)
• electrical machinery (84.4%)
• chemical products (84.1%)
• rubber and plastic products (83.5%)
• paper and paper products (83.3%)
• publishing and printing (81.3%)
• wood and wood products (80.9%)

The proportion of establishments that operated at full capacity (90% to 100%) was 22.9 percent in December 2013. About 54.5 percent of the establishments operated at 70% to 89% capacity while 22.6 percent of the establishments operated below 70% capacity. Refer to Table 6.

 

 

• Industry Coverage

Starting with January 2013 reference month, the MISSI utilizes the 2009 Philippine Standard Industry Classification (PSIC) to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were grouped to form the industry coverage of the 2013 MISSI. These are presented in the table below.

 

Note:  * - Major industries categorized  into sub-industries

 

• Response Rate

The response rates for the December 2013 MISSI and PPS are 81.1 percent and 90.0 percent, respectively.  Refer to Tables 7 and 8.

 

Data of non-responding samples were estimated based on previous records and other administrative reports of these establishments.  Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.

 

(Sgd) CARMELITA N. ERICTA

Administrator