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THE
country’s manufacturing output slumped to a year-on-year
decline of 4.7-percent growth in August 2007, according
to the latest monthly integrated survey of selected
industries (Missi) released by the National Statistics
Office (NSO) Wednesday.
Compared
with July 2007, the manufacturing industry’s volume of
production index (VoPI) in August declined by 1.5
percent. In July 2007 the country’s revised
manufacturing output showed a growth of 2.1 percent.
“Significant reductions in the factory output were noted
in tobacco, basic metals, electrical machinery,
textiles, footwear and wearing apparel, rubber products,
chemical products and machinery excluding electrical,”
the NSO explained in a press statement.
On a
monthly basis, the VoPI fell by 0.8 percent in August
2007. The NSO said the increases in the production
volume of 12 major sectors were offset by the decreases
in eight major sectors. This, the NSO said, resulted in
a “sluggish output performance” of the industry.
Further,
the NSO said the manufacturing industry’s value of
production index (VaPI) also showed a decline of 3.6
percent in August 2007 after posting a 2.1-percent
year-on-year growth in July 2007.
Similarly, on a monthly basis, the VaPI showed a decline
by 1.2 percent in August 2007. Last July, VaPI posted a
2.8-percent growth.
“Though
nine major sectors posted increases, this was offset by
the decreases in 11 major sectors with two-digit
decreases observed in three major sectors,” the NSO
said.
Only
10.8 percent of surveyed establishments operated at full
capacity in August 2007. The Missi showed that 56.3
percent of the establishments operated at 70-89 percent
capacity, and 32.9 percent of establishments operated
below 70 percent capacity.
Average
capacity utilization was estimated at 80.4 percent.
Major sectors that posted more than 80- percent capacity
utilization were machinery excluding electrical,
miscellaneous manufactures, basic metals, petroleum
products, leather products, electrical machinery, rubber
products, paper and paper products, chemical products
and food manufacturing.
Meanwhile, Volume of Net Sales also dropped by 0.3
percent in August from a 3.4-percent increase in July
2007. The NSO said this is due to the double-digit
decreases seen in the volume of net sales of nine major
sectors. These are leather products, textiles, basic
metals, machinery excluding electrical, footwear and
wearing apparel, and electrical machinery.
The NSO
also said on a month-on-month basis, Volume of Net Sales
fell by 0.8 percent in August 2007. The Missi showed 14
major sectors registered double-digit decreases in sales
volume. These sectors were led by rubber products, which
posted a 13.3-percent decline in August 2007.
Value of
Net Sales, on the other hand, increased at a slower rate
of 1.6 percent in August 2007. The NSO said 11 major
sectors reported sales growth with significant two-digit
increases in transport equipment, publishing and
printing, beverages, chemical products, tobacco,
nonmetallic mineral products, wood and wood products,
and furniture and fixtures.
On a
monthly basis, Value of Net Sales slowed down by 1.3
percent in August 2007 due to the decline in sales value
of 14 major sectors led by rubber products with a
two-digit decrease of 16.5 percent. |
