r - revised

• Value of Production Index slightly drops in September 2019

Based on the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI), the Value of Production Index (VaPI) depicted a year-on-year decrement of 2.3 percent in September 2019, from 3.2 percent growth in the same month of the previous year.

Nine out of the 20 major industry groups registered annual declines, with two-digit decreases noted in the following major industry groups: leather products (-28.0%), petroleum products (-25.2%), electrical machinery (-14.6%) and miscellaneous manufactures (-11.9%). Refer to Tables1 and 1-A.

• Volume of Production Index also decreases

The Volume of Production Index (VoPI) showed an annual drop of 3.0 percent in September 2019, from 1.3 percent increase during the same month of the previous year.

Among the eight major industries that exhibited declines in VoPI, five major industries had two-digit decreases, namely: furniture and fixtures (-30.1%), leather products (-22.3%), petroleum products (-17.3%), miscellaneous manufactures (-13.5%) and electrical machinery (-10.4%). Refer to Tables  1-B and 2.

• Value of Net Sales Index decelerates

The Value of Net Sales Index (VaNSI) went down at an annual rate of 2.5 percent in September 2019. In the same month of the previous year, VaNSI posted a positive growth rate of 6.7 percent.

The decrement in September 2019 of VaNSI was mainly influenced by the decreases in 10 major sectors led by machinery except electrical (-15.9%), textiles (-14.5%), and miscellaneous manufactures (-10.2%). Refer to Tables 2-A and 3.

• Volume of Net Sales Index posts negative rate

Volume of Net Sales Index (VoNSI) likewise fell by 2.4 percent in September 2019, from 4.7 percent increment in the same month of the previous year.

The slowdown  was due to the annual decreases observed in nine major industry groups, with two-digit negative annual rates reported by the following: furniture and fixtures (-27.6%), textiles (-13.8%), machinery except electrical (-11.7%) and miscellaneous manufactures (-11.3%). Refer to Tables 2-B and 4.

• Average Capacity Utilization Rate is highest for petroleum products

Average capacity utilization rate for total manufacturing in September 2019 was posted at 84.4 percent. Thirteen (65%) of the 20 major industries had at least 80 percent capacity utilization rates during the month. These were:

• petroleum products (89.9%)
• basic metals (88.8%)
• machinery except electrical (86.5%)
• non-metallic mineral products (86.3%)
• food manufacturing (85.1%)
• electrical machinery (85.1%)
• chemical products (84.9%)
• printing(84.0%)
• paper and paper products (83.9%)
• rubber and plastic products (83.4%)
• wood and wood products (82.0%)
• textiles (80.2%)
• leather products (80.1%)

• More than a quarter of total manufacturing establishments operate at full capacity

The proportion of establishments that operated at full capacity (90% to 100%) was more than one-fourth (27.4%) of the total number of establishments for manufacturing in September 2019. About 54 percent of the total establishments during the month operated at 70 percent to 89 percent capacity, while almost one-fifth (18.5%) 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, August 2019 and September 2019

(2000 =100)