Value of Production maintains a two-digit negative rate
For the month of June, Value of Production Index (VaPI) of the manufacturing industry posted a slower decline of negative 12.8 percent compared with the year-ago decrease of 13.0 percent in May 2009, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). Significant reductions in value of production was exhibited for petroleum products with a decrease of 48.5 percent, followed by eight major sectors that posted two-digit decrements, namely: furniture and fixtures, leather products, paper and paper products, beverages, footwear and wearing apparel, basic metals, transport equipment, and chemical products. Refer to Tables 1-A and 1.
On a month-on-month comparison, VaPI on the other hand recorded an increase of 3.0 percent in June 2009. Thirteen major sectors contributed to the growth led bymiscellaneous manufactures, fabricated metal products, and electrical machinery. Refer to Tables
