Thursday, 26 August 2010

Manufacturing output posted 23.4% growth in June

Written by Cai U. Ordinario
Business Mirror
http://www.businessmirror.com.ph/index.php?option=com_content&view=article&id=520:manufacturing-output-posted-234-growth-in-june&catid=33:economy&Itemid=60

THE country’s manufacturing output continues to increase and even posted a year-on-year growth of 23.4 percent in June, according to the latest Monthly Integrated Survey of Selected Industries released by the National Statistics Office (NSO) on Wednesday.

The NSO said the Volume of Production Index (VoPI) registered the double-digit growth in June due to double-digit increases in the production output of 14 of the 16 major sectors.

The sector that had the highest increase was furniture and fixtures, which registered a growth of 97 percent. The other sectors with significant increases were electrical machinery, machinery except electrical, transport equipment, miscellaneous manufactures, petroleum products and beverages. 

The NSO said the list also included paper and paper products, non-metallic mineral products, leather products, textiles, fabricated metal products, basic metals and rubber and plastic products.

However, on a monthly basis, the NSO said the VoPI had a slower growth of 0.8 percent in June 2010. The minimal month-on-month growth was driven by three major sectors, tobacco products, petroleum products and wood and wood products.

The NSO said the average capacity utilization in June 2010 for total manufacturing sector stood at 83.1 percent.

This was due to 11 major sectors that had capacity-utilization rates of 80 percent and more.

These sectors were basic metals, food manufacturing, machinery except electrical, electrical machinery, petroleum products, nonmetallic mineral products, miscellaneous manufactures, paper and paper products, chemical products, rubber and plastic products and leather products.

“The proportion of establishments that operated at full capacity [90 percent to 100 percent] was 15.2 percent in June 2010. About 63.6 percent of the establishments operated at 70 percent to 89 percent capacity while 21.2 percent of the establishments operated below 70 percent capacity,” the NSO said.

In terms of the Value of Production Index (VaPI) for the manufacturing sector, the index registered a slower average annual growth of 16.3 percent in June 2010. The growth was also driven by 14 major sectors.

The growth in the VaPI was driven by the significant growth in transport equipment, furniture and fixtures, petroleum products, miscellaneous manufactures, electrical machinery, machinery except electrical, leather products and beverages.

The list of sectors also included paper and paper products, basic metal, fabricated metal products, non-metallic mineral products, rubber and plastic products and textiles.

“On a month-on-month change, VaPI posted a 0.1-percent increase from 5.2-percent increment in May 2010. This was attributed to the major sectors footwear and wearing apparel, miscellaneous manufactures and fabricated metal products,” the NSO said.

Data from the NSO also showed that the Volume of Net Sales Index (VoNSI) posted a growth of 24.1 percent in June 2010. This was due to improved performances of 16 major sectors in sales output, led by machinery except electrical and electrical machinery with growth rates recorded at 52.1 percent and 47.6 percent, respectively.

On a month-on-month basis, VoNSI improved by 4.8 percent in June 2010. This was due to 12 major sectors that accounted for the growth with two-digit increases. These sectors were publishing and printing, beverages, basic metals, furniture and fixtures, fabricated metal products and miscellaneous manufactures.

The NSO also said that Value of Net Sales Index (VaNSI) continued to grow at a rate of 16.9 percent in June 2010. This was due to 14 major sectors that had double-digit growth in sales value.

These sectors were petroleum products, leather products, transport equipment, miscellaneous manufactures, basic metals, machinery except electrical, beverages, fabricated metal products, electrical machinery, paper and paper products and textiles.

Likewise, VaNSI on a monthly basis, grew by 5.7 percent in June 2010. The expansion was due to the growth in sales exhibited by 13 major sectors, with double-digit increases observed in publishing and printing, beverages, basic metals, fabricated metal products and miscellaneous manufactures.

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