r - revised

• Value of Production Index sustains a two-digit growth in March 2018

The Value of Production Index (VaPI) for manufacturing continued to grow exhibiting an increment of 12.8 percent in March 2018, based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This was brought about by the increments in 11 major sectors led by printing (102.8%). Other major sectors with two-digit growth in VaPI were textiles (33.6%), food manufacturing (26.6%), petroleum products (24.6%), miscellaneous manufactures (17.0%), wood and wood products (16.7%), non-metallic mineral products (15.8%), electrical machinery (14.3%) and tobacco products (14.2%). Refer to Tables1-A and 1.

• Volume of Production Index increases further

The Volume of Production Index (VoPI)  stepped up as it posted a two-digit year-on-year increase of 13.6 percent in March 2018. The growth was led by printing (107.6%) and supported by the two-digit annual expansions in eight major sectors, namely: textiles (32.9%), food manufacturing (28.0%), miscellaneous manufactures (15.5%), petroleum products (15.3%), wood and wood products (15.0%), non-metallic mineral products (12.7%), electrical machinery (11.9%). Refer to Tables 1-B and 2.

• Value of Net Sales Index continues to grow at a slower rate

The Value of Net Sales Index (VaNSI) depicted a minimal annual growth of 3.3 percent in March 2018. Among the 11 major sectors reporting increments in VaNSI, four major sectors significantly contributed to the increases, namely: leather products (120.8%), tobacco products (33.4%), chemical products (13.0%) and non-metallic mineral products (11.5%). Refer toTables 2-A and 3.

• Volume of Net Sales Index slightly accelerates

The Volume of Net Sales Index (VoNSI) grew at a slower rate of 4.1 percent in March 2018 compared with the two-digit increase of 20.6 percent during the same month of the previous year. Three major sectors largely contributed to the growth in VoNSI led by leather products that posted three-digit increment of 163.9 percent. Other two major sectors that contributed to the increase  in VoNSI were observed in rubber and plastic products (16.9%) and chemical products (16.6%). Refer to Tables 2-B and 4.

Average Capacity Utilization Rate in March 2018 is 84.2 percent with petroleum products posting the highest among industries

Average capacity utilization rate in March 2018 for total manufacturing was recorded at 84.2 percent. Sixty percent or 12 of the 20 major industries operated at 80 percent and above capacity utilization rates. These are:

• petroleum products (89.6%)
• basic metals (88.8%)
• non-metallic mineral products (86.9%)
• machinery except electrical (86.0%)
• food manufacturing (85.6%)
• electrical machinery (84.9%)
• chemical products (84.9%)
• paper and paper products (83.5%)
• rubber and plastic products (83.1%)
• printing (81.6%)
• wood and wood products (81.3%)
• textiles (80.8%)

The proportion of establishments that operated at full capacity (90% to 100%) was recorded at more than one-fourth of the total number of establishments (28.2%) in   March 2018. About 53.4 percent of the total establishments operated at 70 percent to 89 percent capacity while almost one-fifth of the total establishments (18.4%) operated below 70 percent capacity. Refer to Table B and 6.

Response Rate

The response rates for the March 2018 MISSI and PPS were registered at 74.0 percent and 85.7 percent, respectively.  Refer to Tables 7 and 8.

r - revised

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.

LISA GRACE S. BERSALES, Ph. D.

Undersecretary

National Statistician and Civil Registrar General

TABLE 1-A Value of Production Index, February 2018 and March 2018

   (2000 =100)