Producer Price Index for Manufacturing (2018=100) July 2024
Table A Year-on-Year and Month-on-Month Growth Rates |
|||
---|---|---|---|
Total Manufacturing | August 2012 | July 2012 | |
Producer Price Index (2000=100) | 162.2 | 161.6r | |
Year-on-Year Growth | -0.8 | -1.4r | |
Month-on-Month Growth | 0.4 | -2.3 |
r-revised
- Producer Price Index drops at a slower rate
Producer Price Index (PPI, 2000=100) for the manufacturing industry continued its downtrend with a decrease of 0.8 percent in August 2012, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. Thirteen major sectors posted decrements with furniture and fixtures recording the biggest decline of 35.1 percent. On the other hand, increases in the PPI were noted in seven major sectors led by food manufacturing (7.2%), publishing and printing (6.1%) and rubber and plastic products (5.9%). Refer to Tables 1 and 1-B.
On a monthly basis, PPI went up by 0.4 percent in August 2012 from negative 2.3 percent in July. Sixteen sectors contributed to the increase led by petroleum products (6.5%). On the other hand, four sectors posted decreases led by chemical products (-4.0%) while six major sectors posted flat growths. Refer to Tables 1 and 1-B.
TECHNICAL NOTES
- Introduction
The National Statistics Office generates various price indices, one of this is the Producer Price Index. (PPI). The PPI is generated through the results of the Producers Price Survey (PPS) conducted nationwide. The survey gathers monthly actual producer prices of selected products included in the market basket.
The PPI is the deflator of the Monthly Integrated Survey of Selected Industries (MISSI) to derive indicators for the Volume of Production Index (VoPI) and Volume of Net Sales Index (VoNSI).
- Method of Index Computation
PPI utilizes the Paasche-type method of index computation. The weights are computed from the value of production to derive concentration ratios from the Census of Philippine Business and Industry (CPBI) or Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI or CPBI are available and applied at the beginning of each survey year.
For the 2012 PPI, the weights of the major sectors and sub-sectors were computed from the results of the 2009 ASPBI for Manufacturing Establishments with total employment of 20 and over, which is the latest survey results.
The formulas in the computation of the PPI are as follows:
- Industry Coverage
The industry classification of the 2012 PPI utilizes the amended 1994 Philippine Standard Industry classification. There are 20 major sectors covered by the 2012 PPS with three consisting of subsectors.
1994 PSIC CODE INDUSTRY DESCRIPTION 15 except 155 Food Manufacturing 155 Beverages 16 Tobacco products 17 Textiles 18,174 and 192 Footwear and wearing apparel 191 Leather products 20 Wood and wood products 21 Paper and paper products 22 Publishing and printing 23 Petroleum products 24 Chemical products 25 Rubber and plastic products* 26 Non-metallic mineral products* 27 Basic metals* 28 Fabricated metal products 29 and 30 Machinery except electrical 31 and 32 Electrical machinery 34 and 35 Transport equipment 36 Furniture and fixtures 33, 37 and 39 Miscellaneous manufactures Note: * - Major sectors categorized into sub-sectors
-
Response Rate
The response rate for August 2012 is 82.7 percent, which corresponds to the retrieval of 273 sample establishments’ reports. Refer to Table 2.
Table B Response Rates For Total Manufacturing |
|||
---|---|---|---|
August 2012 | July 2012 (revised) |
||
82.7 | 95.2r |
Non-responding sample establishments are estimated using cold-deck imputation method. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.
(Sgd.) CARMELITA N. ERICTA
Administrator
TABLE 1-A. PRODUCER PRICE INDEX, JULY 2012 - AUGUST 2012
(2000=100)
Gainers | Year-on-Year Growth (percent) |
|
---|---|---|
August 2012 | July 2012 (revised) |
|
Food Manufacturing |
7.2 |
6.6 |
Machinery Except Electrical |
4.4 |
4.2 |
Petroleum Products |
2.4 |
-3.2 |
Rubber and Plastic Products |
5.9 |
6.0 |
Publishing and Printing |
6.1 |
6.1 |
Paper and Paper Products |
1.7 |
-2.7 |
Beverages |
0.0 |
0.1 |
Losers | Year-on-Year Growth (percent) |
|
August 2012 | July 2012 (revised) |
|
Electrical Machinery |
-6.6 |
-7.0 |
Basic Metals |
-8.9 |
-7.2 |
Furniture and Fixtures |
-35.1 |
-34.2 |
Chemical Products |
-2.4 |
-1.2 |
Fabricated Metal Products |
-5.1 |
-5.1 |
Wood and Wood Products |
-9.6 |
-9.6 |
Non-Metallic Mineral Products |
-2.3 |
-1.6 |
Transport Equipment |
-0.5 |
-0.2 |
Leather Products |
-3.8 |
-3.8 |
Miscellaneous Manufactures |
-0.9 |
-7.1 |
Footwear and Wearing Apparel |
-0.8 |
-1.6 |
Tobacco Products |
-0.6 |
-0.6 |
Textiles |
-0.1 |
-0.4 |
TABLE 1-B. PRODUCER PRICE INDEX, JULY 2012 - AUGUST 2012
(2000=100)
Gainers | Month-on-Month Growth (percent) |
|
---|---|---|
August 2012 | July 2012 (revised) |
|
Petroleum Products |
6.5 |
4.5 |
Electrical Machinery |
0.7 |
-7.4 |
Machinery Except Electrical |
0.8 |
1.3 |
Paper and Paper Products |
2.9 |
-1.0 |
Food Manufacturing |
0.2 |
-1.5 |
Fabricated Metal Products |
0.9 |
-0.7 |
Furniture and Fixtures |
2.3 |
-17.1 |
Footwear and Wearing Apparel |
0.5 |
-1.6 |
Textiles |
0.2 |
-0.1 |
Rubber and Plastic Products |
0.0 |
0.0 |
Non-Metallic Mineral Products |
0.6 |
0.6 |
Publishing and Printing |
0.0 |
0.0 |
Leather Products |
0.0 |
0.0 |
Tobacco Products |
0.0 |
0.0 |
Wood and Wood Products |
0.0 |
-0.3 |
Beverages |
0.0 |
-0.1 |
Losers | Month-on-Month Growth (percent) |
|
August 2012 | July 2012 (revised) |
|
Chemical Products |
-4.0 |
1.3 |
Basic Metals |
-1.3 |
1.0 |
Transport Equipment |
-0.7 |
-1.5 |
Miscellaneous Manufactures |
-0.3 |
-3.3 |
Note:
Sectors are ranked according to their contribution to the overall 2000-based growth rate.
Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1.
Month-on-month growth rates are computed by dividing the current month index by previous month index less 1
Source: National Statistics Office
Manila, Philippines