r - revised

• Value of Production Index decelerates

Based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI), Value of Production Index (VaPI) for manufacturing declined by 2.1 percent in May 2019. During the same month of the previous year, the annual rate of VaPI went up by 14.8 percent.

The downtrend  was due to the annual decreases observed in seven major industry groups with two-digit negative annual rates as follows: leather products (-18.3%), food manufacturing (-17.7%), miscellaneous manufactures (-15.6%), and basic metals (-13.5%). Refer to Tables1-A and 1.

• Volume of Production Index declines

Volume of Production Index (VoPI) also posted a decrease of 4.0 percent in May 2019. It posted a two-digit annual growth of 13.0 percent in April 2018.

Six major industry groups registered annual decreases with furniture and fixtures and food manufacturing posting the highest annual declines of 35.0 percent and 14.0 percent, respectively. Refer to Tables 1-B and 2

• Value of Net Sales Index sustains a positive growth

The Value of Net Sales Index (VaNSI) reflected a year-on-year increase of 0.7 percent in May 2019. Its annual rate during the same month of the previous year was higher at 13.1 percent.

The increment was brought about by the improved performance of 10 major industry groups with two-digit increases as follows: wood and wood products (43.7%), fabricated metal products (28.3%), transport equipment (17.1%), and petroleum products (14.6%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index decreases

The Volume of Net Sales Index (VoNSI) declined by 1.3 percent in May 2019 as compared with its annual growth of 11.3 percent during the same period last year.

Eleven major industry groups pulled down the VoNSI which was led by furniture and fixtures (-36.0%), and textiles (-20.4%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate is highest for petroleum products

Average capacity utilization rate for total manufacturing in May 2019 was posted at 84.4 percent. Fifty-five percent or 11 of the 20 major industries had at least 80 percent capacity utilization rates during the month. These were:

• petroleum products (89.5%)
• basic metals (88.8%)
• non-metallic mineral products (86.4%)
• machinery except electrical (86.4%)
• food manufacturing (85.3%)
• chemical products (85.2%)
• electrical machinery (85.1%)
• paper and paper products (83.9%)
• rubber and plastic products (83.3%)
• wood and wood products (82.0%)
• textiles (80.4%)

The proportion of establishments that operated at full capacity (90% to 100%) was more than one-fourth (27.6%) of the total number of establishments for manufacturing in May 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, April 2019 and May 2019

(2000 =100)