1. Value of Production Index (VaPI)

The seasonally adjusted VaPI for total manufacturing in November 2023 grew at a monthly rate of 1.1 percent from 3.8 percent monthly contraction observed in October 2023. (Figure 1a, and Tables A and 1)

Similarly, the seasonally adjusted VaPI for food manufacturing grew by 2.9 percent in November 2023. This was a recovery from the previous month’s drop of 1.2 percent. (Figure 1b, and Tables A and 1)

2. Volume of Production Index (VoPI)

The monthly rate of the seasonally adjusted VoPI for total manufacturing increased at 0.7 percent in November 2023. This was a recovery from the 4.1 percent month-on-month decrement in October 2023. (Figure 2a, and Tables A and 2)

Likewise, the seasonally adjusted VoPI for food manufacturing expanded month-on-month by 2.4 percent in November 2023 from the 0.3 percent monthly decrement in the previous month. (Figure 2b, and Tables A and 2)

3. Value of Net Sales Index (VaNSI)

In November 2023, the monthly rate of the seasonally adjusted VaNSI for total manufacturing declined further by 2.2 percent from 0.8 percent monthly drop in October 2023. (Figure 3a, and Tables A and 3)

Likewise, the month-on-month growth rate of the seasonally adjusted VaNSI for food manufacturing decreased by 1.9 percent during the month. This downturn was faster from last month’s monthly decline of 1.2 percent. (Figure 3b, and Tables A and 3)

4. Volume of Net Sales Index (VoNSI)

Month-on-month, the seasonally adjusted VoNSI for total manufacturing declined further in November 2023 by 3.3 percent from the 1.0 percent monthly decline observed in October 2023. (Figure 4a, and Tables A and 4)

Likewise, the seasonally adjusted VoNSI for food manufacturing declined further by 2.3 percent month-on-month in November 2023 from its monthly contraction of 0.5 percent in the previous month. (Figure 4b, and Tables A and 4)

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

See more at the Seasonally Adjusted Production Index and Net Sales Index (Monthly Integrated Survey of Selected Industries) landing page.

Technical Notes

The Monthly Integrated Survey of Selected Industries (MISSI) generates the original series of the Value of Production Index (VaPI), Volume of Production Index (VoPI), Value of Net Sales Index (VaNSI), and Volume of Net Sales Index (VoNSI). These indices provide information on the performance of growth-oriented industries in the manufacturing sector.

This special release features the seasonally adjusted VaPI, VoPI, VaNSI, and VoNSI using X-13 Auto-Regressive Integrated Moving Average (ARIMA) of JDemetra+. The seasonally adjusted series show the trend of value and volume of production and net sales of the manufacturing sector without the effects of seasonal factors.

The decomposition model chosen for the seasonal adjustment for each index is shown below.