r - revised

• Value of Production Index gains in October 2016

Value of Production Index (VaPI) grew in October 2016 recording a year-on-year growth of 4.3 percent compared with the negative 6.2 percent during the same month of last year, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI). This increase in VaPI was due to the two-digit growth observed in four major sectors, outpacing the two-digit decreases reported by six major sectors. Major sectors that reported significant expansion were petroleum products (29.0%), transport equipment (17.7%), food manufacturing (16.8%) and beverages (12.1%). Refer to Tables 1-A and 1.

• Volume of Production Index accelerates further

Volume of Production Index (VoPI) rose by 8.4 percent in October 2016 compared with a minimal increase of 1.5 percent during the same month of last year. This maybe attributed to the increases in fifty percent of the 20 major sectors with significant contribution of four heavily weighted sectors namely: petroleum products (37.0%), machinery except electrical (24.4%), transport equipment (19.4%) and food manufacturing (14.3%). Refer to Tables 1-B and 2.

• Value of Net Sales Index recovers

Value of Net Sales Index (VaNSI) recovered in October 2016, registering a growth of 2.2 percent compared with the negative 9.7 percent during the same month of last year. This was brought about by the favorable performance of 11 major sectors, with two-digit increases reported by the  following: transport equipment (15.3%), wood and wood products (14.1%), machinery except electrical (12.5%), paper and paper products (11.5%) and rubber and plastic products (10.8%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index also rises

Volume of Net Sales Index (VoNSI) rose 6.2 percent, recording a reversal from the negative rate of 2.2 percent in October 2015. Sectors that largely contributed to the growth in VoNSI were observed in the following: machinery except electrical (28.7%), transport equipment (17.0%), basic metals (14.6%), rubber and plastic products (12.3%), paper and paper products (12.1%) wood and wood products (10.3%). Refer to Tables   2-B and 4.

• Average Capacity Utilization Rate in October 2016 is 83.7 percent with petroleum products posting the highest among industries

Average capacity utilization rate in June 2016 for total manufacturing was recorded at 83.7 percent. Fifty-five percent or 11 of the 20 major industries operated at 80 percent and above capacity utilization rates. These were:

• petroleum products (88.5%)
• basic metals (88.4%)
• non-metallic mineral products (86.4%)
• machinery except electrical (85.2%)
• food manufacturing (84.9%)
• chemical products (84.8%)
• electrical machinery (84.4%)
• paper and paper products (83.4%)
• rubber and plastic products (82.8%)
• wood and wood products (81.0%)
• printing (80.3%)

The proportion of establishments that operated at full capacity (90% to 100%) was 23.7 percent in October 2016. About 58.1 percent of the establishments operated at 70 percent to 89 percent capacity while 18.2 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 October 2016 MISSI and PPS are 78.1 and 82.7 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.

                                                                                                                     FOR THE NATIONAL STATISTICIAN:

TABLE 1-A Value of Production Index, September 2016 and October 2016

   (2000 =100)

TABLE 1-B Volume of Production Index, September 2016 and October 2016

   (2000 =100)

TABLE 2-A  Value of Net Sales Index, September 2016 and October 2016

(2000 =100)

TABLE 2-B  Volume of Net Sales Index, September 2016 and October 2016

(2000 = 100)