By Mayvelin U. Caraballo Reporter
Philippine factory output as measured by volume of production index (VoPi), registered a slower annual growth of 1.2 percent in March 2013, according to the results of the Monthly Integrated Survey of Selected Industries (Missi) released by the National Statistics Office (NSO).
“This can be attributed mainly to the slowdown in the annual growth of food manufacturing,” the survey said.
It noted that six of the eight major sectors contributed to the positive growth in production output, namely: furniture and fixtures; basic metals; chemical products; leather products; wood and wood products; and machinery except electrical.
The Missi report also stated that VoPI posted a month-on-month a growth of 2.5 percent in March, noting that 14 major sectors reported increases in production output led by furniture and fixtures, and wood and wood products.
On the other hand, the survey also showed that total manufacturing as measured by the Value of Production Index (VaPI) dropped 7.9 percent in March 2013.
The survey attributed the drop to 16 major sectors with two-digit decrement in production values. The sectors were: tobacco products; miscellaneous manufactures; petroleum products; publishing and printing; textiles; paper and paper products; electrical machinery; beverages; rubber and plastic products; and fabricated metal products.
Month-on-month, the VaPI accelerated by 2.7 percent in March 2013 because of the growth in four major sectors.
Meanwhile, the survey further showed that the average capacity utilization in March 2013 for total manufacturing stood at 82.9 percent.
The Missi report mentioned that 50 percent of the 20 major sectors registered capacity utilization rates of 80 percent.
This was led by basic metals; petroleum products; electrical machinery; non-metallic mineral products; machinery except electrical; food manufacturing; wood and wood products; chemical products; rubber and plastic products; and paper and paper products.
The survey added that the proportion of establishments that operated at full capacity was recorded at 21.6 percent in March, and about 53.4 percent of the establishments operated at 70-percent to 89-percent capacity, while 25 percent of the establishments operated at below 70-percent capacity.
In addition, the Volume of Net Sales Index (VoNSI) accelerated at a slower rate as it posted a year-on-year growth of 9 percent in March 2013 accounted, mainly from the slowdown in the annual sales volumes in the rubber and plastic products, and machinery except electrical sectors.
On a month-on-month comparison, the VoNSI also grew by 7.5 percent in March attributed to the two-digit growth in production volumes reported by five major sectors.
Lastly, the survey observed that the Value of Net Sales Index (VaNSI) slipped 0.8 percent in March 2013 from a 2.3 percent gain in previous month, because of the decreases recorded in 16 major sectors.
Month on month, the Missi report said that the VaNSI, however, increased, registering a 7.7-percent growth in March because of the double-digit increase reported by chemical products; furniture and fixtures; electrical machinery and machinery except electrical.