1. Value of Production Index (VaPI)

The seasonally adjusted VaPI for total manufacturing decreased in June 2024 at a monthly rate of 1.2 percent from a 0.3 percent monthly growth in May 2024. (Figure 1a, and Tables A and 1)

Likewise, the seasonally adjusted VaPI for food manufacturing declined by 0.1 percent month-on-month in June 2024 from the 2.0 percent monthly decrease in May 2024. (Figure 1b, and Tables A and 1)

Furthermore, the seasonally adjusted VaPI of industry divisions other than the manufacture of food are shown in Table 1a.

2. Volume of Production Index (VoPI)

The monthly rate of the seasonally adjusted VoPI for total manufacturing decreased by 1.3 percent in June 2024, while a 0.02 percent month-on-month growth rate was observed in May 2024. (Figure 2a, and Tables A and 2)

Similarly, the monthly rate of the seasonally adjusted VoPI for food manufacturing declined by 0.7 percent this month from its monthly decline of 2.2 percent in May 2024. (Figure 2b, and Tables A and 2)

In addition, the seasonally adjusted VoPI of industry divisions other than the manufacture of food are shown in Table 2a.

3. Value of Net Sales Index (VaNSI)

In June 2024, the monthly rate of the seasonally adjusted VaNSI for total manufacturing declined by 0.7 percent from the 1.5 percent decrease in May 2024. (Figure 3a, and Tables A and 3)

Likewise, a monthly decrease of 0.2 percent was observed in the seasonally adjusted VaNSI for food manufacturing during the month. In May 2024, a growth of 0.6 percent month-on-month was recorded. (Figure 3b, and Tables A and 3)

Furthermore, the seasonally adjusted VaNSI of industry divisions other than the manufacture of food are shown in Table 3a.

4. Volume of Net Sales Index (VoNSI)

Month-on-month, the seasonally adjusted VoNSI for total manufacturing had an upturn of 1.4 percent in June 2024 from a 2.2 percent decline in May 2024. (Figure 4a, and Tables A and 4)

Likewise, the monthly rate of the seasonally adjusted VoNSI for food manufacturing grew by 0.4 percent in June 2024. The same monthly growth rate was observed in May 2024. (Figure 4b, and Tables A and 4)

Moreover, the seasonally adjusted VoNSI of industry divisions other than the manufacture of food are shown in Table 4a.

CLAIRE DENNIS S. MAPA, PhD             
Undersecretary             
National Statistician and Civil Registrar General

See more at the Seasonally Adjusted Production Index and Net Sales Index (Monthly Integrated Survey of Selected Industries) landing page.

Technical Notes

The Monthly Integrated Survey of Selected Industries (MISSI) generates the original series of the Value of Production Index (VaPI), Volume of Production Index (VoPI), Value of Net Sales Index (VaNSI), and Volume of Net Sales Index (VoNSI). These indices provide information on the performance of growth-oriented industries in the manufacturing sector.

This special release features the seasonally adjusted VaPI, VoPI, VaNSI, and VoNSI using X-13 Auto-Regressive Integrated Moving Average (ARIMA) of JDemetra+. The seasonally adjusted series show the trend of value and volume of production and net sales of the manufacturing sector without the effects of seasonal factors.

The decomposition model chosen for the seasonal adjustment for each index is shown below.