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Footwear & wearing apparel production grows at a slower rate
26
Jul '08
Value of Production Index (VaPI) for the manufacturing industry continued to grow as it posted an increase of 9.1 percent in May 2008, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).

Significant expansions in production was exhibited in basic metals with a year-on-year growth of 48.2 percent, followed by other major sectors that posted two-digit increases, namely: leather products, wood and wood products, footwear and wearing apparel, food manufacturing, rubber and plastic products, and beverages.

Likewise, VaPI recorded a month-on-month increase of 2.9 percent in May 2008. Thirteen (13) of the 20 major sectors reported increases in production, with two-digit increases observed in the following: publishing and printing, tobacco products, basic metals, wood and wood products, and leather products.

Volume of Production Index (VoPI) also posted a year-on-year increase of 4.7 percent in May 2008. Major sectors with two-digit growth were observed in the following: leather products, footwear and wearing apparel, wood and wood products, basic metals, food manufacturing, beverages, and rubber and plastic products.

On a month-on-month basis, VoPI registered a slower growth of 0.6 percent in May 2008. Twelve (12) of the 20 major sectors exhibited increase in factory output, with two-digit increments noted in publishing and printing, tobacco products, and basic metals.

On a year-on-year basis, Value of Net Sales Index (VaNSI) gained by 6.5 percent in May 2008. This maybe attributed to the sales performances of the following major sectors: leather products, petroleum products, wood and wood products, basic metals, paper and paper products, and food manufacturing.

Moreover, VaNSI on a monthly comparison, recovered by 4.4 percent from a drop of 1.8 percent in April 2008. This was brought about by the month-on-month increases observed in 14 major sectors, with two-digit increments reported by the following: leather products, petroleum products, wood and wood products, and publishing and printing.

Volume of Net Sales Index (VoNSI), on a year-on-year basis, slightly grew by 3.0 percent in May 2008. This was due to the two-digit increases reported by four (4) major sectors, offsetting the two-digit decreases reported by five (5) major sectors.

Meanwhile, on a monthly basis, VoNSI climbed 2.1 percent in May 2008 from the previous month's decline of 2.6 percent. This was due to the impressive sales performances of the following major sectors: leather products, wood and wood products, and publishing and printing. Refer to Tables 2-B and 10.

Average capacity utilization in May 2008 for total manufacturing was estimated at 80.8 percent. Ten (10) major sectors that registered more than 80% capacity utilization rates were the following: basic metals, food manufacturing, petroleum products, footwear and wearing apparel, leather products, paper and paper products, miscellaneous manufactures, chemical products (excluding plastic products), electrical machinery, and rubber and plastic products.

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