•    Value of Production Index grows in May 2014

Value of Production Index (VaPI) for manufacturing increased by 12.6 percent   in May 2014 compared with  an 8.8 percent increment posted during the same period last year,  according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). VaPI’s favorable annual performance was due mainly to the surge in production value of printing (227.7%) and the double-digit expansion of the following industries: fabricated metal products (47.8%), tobacco products (38.3%), beverages (32.7%), petroleum products (25.7%), wood and wood products (25.6%), textiles (19.5%), transport equipment (14.3%) and food manufacturing (13.5%).  Refer to Tables 1-A and 1.

•    Volume of Production Index registers two-digit growth in May 2014

On a year-on-year basis, Volume of Production Index (VoPI) grew at a slower rate of 13.8 percent in May 2014 compared with 20.2 percent in May 2013. Printing  contributed much to the increase with a 227.7 percent growth, followed by ten other major sectors that registered two-digit increments in production volume namely: fabricated metal products (58.3%), beverages (31.5%),  tobacco products (30.8%), wood and wood products (20.8%), petroleum products (18.9%), textiles (16.4%), machinery except electrical (13.2%), electrical machinery (13.1%), transport equipment (12.8%) and basic metals (12.7%). Refer to Tables 1-B and 2.

•    Value of Net Sales Index grows at a slower rate in May 2014

Value of Net Sales Index (VaNSI), climbed slowly to 7.5 percent in May 2014 compared with 8.5 percent registered in May  2013. Fourteen of the 20 major sectors posted gains in sales output led by printing (154.4%). The next nine  sectors with significant increases were: fabricated metal products (70.1%), textiles (31.2%), petroleum products (25.5%), wood and wood products (25.2%), leather products (15.0%), machinery except electrical (12.9%), transport equipment (12.4%), rubber and plastic products (12.0%) and non-metallic mineral products (11.4%). Refer to Tables 2-A and 3.

•    Volume of Net Sales Index likewise increases at a slower rate in May 2014

Volume of Net Sales Index (VoNSI) likewise posted a slower annual increase of 8.7 percent compared with 19.8 percent in May 2013. Sales volume of fifteen major sectors expanded led by printing with a three-digit growth of 154.4 percent. This was followed by eight other sectors that posted two-digit increases, namely:  fabricated metal products (82.3%), textiles (27.9%), wood and wood products (20.4%), machinery except electrical (19.4%), petroleum products (18.6%), leather products (11.8%) and rubber and plastic products (10.0%). Refer to Tables 2-B and 4.

•    Capacity Utilization in May 2014 is 83.5 percent

Average capacity utilization in May 2014 for total manufacturing was recorded at 83.5 percent. More than 50 percent or eleven of the 20 major industries operated at 80 percent and above capacity utilization rates. These are:

• petroleum products (89.0%)
• basic metals (87.9%)
• non-metallic mineral products (86.2%)
• food manufacturing (84.7 %)
• machinery except electrical (84.7%)
• electrical machinery (84.4%)
• chemical products (84.0%)
• paper and paper products (82.9%)
• rubber and plastic products (82.4%)
• publishing and printing (82.1%)
• wood and wood products (81.5%)

The proportion of establishments that operated at full capacity (90% to 100%) was 23.2 percent in May 2014. About 57.3 percent of the establishments operated at 70% to 89% capacity while 19.5 percent of the establishments operated below 70% capacity. Refer to Table 6 and B.

•    Response Rate

The response rates for the May 2014 MISSI and PPS are 84.5 percent and 93.0 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.