r - revised

• Value of Production Index drops in June 2019

Based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI), Value of Production Index (VaPI) for manufacturing went down at an annual rate of 9.6 percent in June 2019. In the same month of the previous year, VaPI went up at an annual rate of 10.9 percent.

The decline of VaPI in June 2019 can be attributed to the decreases in the indices of three major industry groups led by petroleum products (-69.9%), basic metals (-23.0%), and leather products (-20.0%).  Refer to Tables1-A and 1.

• Volume of Production Index likewise decreases

Volume of Production Index (VoPI) also declined by 10.5 percent in June 2019. During the same month of the previous year, the annual growth rate of VoPI was higher at 9.8 percent.

The downtrend  was due to the annual decreases observed in 11 major industry groups led by the major industry groups with two-digit negative annual rates as follows: petroleum products (-69.3%), furniture and fixtures (-40.5%),  and basic metals (-18.3%). Refer to Tables  1-B and 2

• Value of Net Sales Index slightly decreases

The Value of Net Sales Index (VaNSI) slipped to 1.3 percent in June 2019, from a two-digit growth of 10.9 percent in the same month of the previous year.

Ten major industry groups pulled down the VoNSI led by machinery except electrical (-33.4%), leather products (-27.5%), miscellaneous manufactures (-15.7%), textiles (-15.4%), and petroleum products (-12.1%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index declines

The Volume of Net Sales Index (VoNSI) exhibited a year-on-year decrement of 2.3 percent in June 2019, compared with the 9.8 percent growth during the same month of the previous year.

Eleven major industry groups registered annual decreases with furniture and fixtures and machinery except electrical posting the highest annual declines of 36.8 percent and 31.0 percent, respectively. This was followed by four other major industries, namely: textiles (-13.8%), rubber and plastic products (-12.8%), petroleum products (-10.4%), and leather products (-10.1%). Refer to Tables 2-A and 3.

• Average Capacity Utilization Rate is highest for basic metals

Average capacity utilization rate for total manufacturing in June 2019 was posted at 84.3 percent. Sixty percent or 11 of the 20 major industries had at least 80 percent capacity utilization rates during the month. These were:

• basic metals (88.6%)
• petroleum products (88.4%)
• non-metallic mineral products (86.3%)
• machinery except electrical (86.3%)
• food manufacturing (85.3%)
• electrical machinery (85.1%)
• chemical products (84.9%)
• paper and paper products (83.8%)
• rubber and plastic products (83.3%)
• wood and wood products (82.0%)
• textiles (80.3%)
• printing (80.3%)

The proportion of establishments that operated at full capacity (90% to 100%) was more than one-fourth (27.7%) of the total number of establishments for manufacturing in June 2019. About 53.6 percent of the total establishments during the month operated at 70 percent to 89 percent capacity, while almost one-fifth (18.8%) operated below 70 percent capacity. Refer to Tables B  and 6.

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

TABLE 1-A Value of Production Index, May 2019 and June 2019

(2000 =100)