r - revised

• Value of Production Index rebounds in April 2016

Value of Production Index (VaPI) for total manufacturing bounced back in April 2016 as it posted an annual increase of 6.8 percent from a 6.4 percent decrement during the same month last year, per preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). The increase was brought about by the expansion in VaPI of 14 major sectors, with significant increases observed in the following: miscellaneous manufactures (49.7%), printing (32.3%), food manufacturing (28.4%), transport equipment (23.9%), machinery except electrical (18.7%) and beverages (11.9%). Refer to Tables 1-A and 1.

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• Volume of Production exhibits two-digit growth

Volume of Production Index (VoPI) gained further in April 2016, posting two-digit increment of 10.5 percent. Among the 13 major sectors that reported increases in VoPI, six major sectors recorded two-digit growth, namely: machinery except electrical (43.9%), miscellaneous manufactures (40.7%), printing (33.5%), food manufacturing (27.1%), transport equipment (23.5%) and basic metals (18.8%). Refer to Tables 1-B and 2.

• Value of Net Sales Index picks up in April 2016

Value of Net Sales Index (VaNSI) significantly rose to 1.8 percent in April 2016 compared with the negative 6.8 percent during the same month of last year. Of the     12 major sectors that reflected increases in VaNSI, eight sectors exhibited two-digit growth led by printing with 54.7 percent increase. Other major sectors that recorded two-digit growth were wood and wood products (32.3%), basic metals (22.9%), miscellaneous manufactures (22.0%), machinery except electrical (21.7%), rubber and plastic products (21.2%), paper and paper products (20.3%), and non-metallic mineral products (16.4%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index likewise accelerates

Volume of Net Sales Index (VoNSI) stepped up as it posted an annual growth of 5.3 percent in April 2016. Eleven major sectors showed increases in VoNSI, with nine sectors attributing to the significant increases, namely: printing (56.1%), machinery except electrical (47.7%), wood and wood products (39.2%), basic metals (37.2%), rubber and plastic products (25.5%), paper and paper products (19.0%), miscellaneous manufactures (14.7%), non-metallic mineral products (12.5%) and leather products (10.0%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate in April 2016 is 83.4 percent with basic metals posting the highest among industries

Average capacity utilization rate in April 2016 for total manufacturing was recorded at 83.4 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These were:

• basic metals (88.6%)
• petroleum products (88.0%)
• non-metallic mineral products (86.6%)
• machinery except electrical (85.2%)
• food manufacturing (84.7%)
• electrical machinery (84.4%)
• chemical products (83.8%)
• paper and paper products (83.4%)
• rubber and plastic products (82.6%)
• wood and wood products (80.9%)
• printing (80.2%)

The proportion of establishments that operated at full capacity (90% to 100%) was 24.1 percent in April 2016. About 58.2 percent of the establishments operated at 70 percent to 89 percent capacity while 17.7 percent of the establishments operated below 70 percent capacity. Refer to Table B and 6.

• Industry Coverage

The 2016 MISSI utilizes the 2009 PSIC to classify major industries and sub-industries. Twenty major industries of the 2009 PSIC were formed to comprise the industry coverage of the 2016 MISSI. These are presented in the table below.

• Response Rate         

The response rates for the April 2016 MISSI and PPS are 75.3 and 81.8 percent, respectively.  Refer to Tables 7 and 8.

Data of non-responding samples were estimated using short-term geometric mean of the relative values of responding samples within the industry class. Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.

TABLE 1-A Value of Production Index, March 2016 and April 2016

   (2000 =100)

TABLE 1-B  Volume of Production Index, March 2016 and April 2016

(2000 = 100)

TABLE 2-A  Value of Net Sales Index, March 2016 and April 2016

(2000 =100)

TABLE 2-B  Volume of Net Sales Index, March 2016 and April 2016

(2000 = 100)