Date Released: May 06, 2008
PRODUCER PRICE SURVEY March 2008
The Producer Price Index (PPI, 2000 = 100) for the manufacturing industry increased at a slower rate of 0.8 percent in March compared to its year-ago figure, according to the preliminary results of the monthly Producer Price Survey. Among the major sectors, petroleum products and basic metals posted the highest producer price increases with two-digit growth of 23.0 percent and 16.6 percent, respectively, while eleven (11) major sectors posted single-digit increases led by publishing and printing . On the other hand, sectors that reported two-digit decreases in producer price were observed in miscellaneous manufactures and furnitures and fixtures. Refer to Tables 2 and 1-A. On a month-on-month basis, PPI registered a growth of 0.8 percent growth in March 2008. This was brought about by the producer price increases exhibited by twelve major sectors.Refer to Tables 2 and 1-B.
The response rate for March 2008 is 86.7 percent, which corresponds to the retrieval of 268 sample establishments’ reports. Refer to Table 2. Response Rates for Total Manufacturing
The 1994 based PPI will be discontinued with the December 2007 data as the last of the series. Only the 2000 based PPI will be continued in 2008. Starting February 2008 PPI release, a revised industry disaggregation is adopted to conform with the amended 1994 PSIC. Rubber and Plastic Products is a new major sector, consisting of two sub-sectors, namely: Rubber Products and Plastic Products . Rubber Products was previously a major sector while Plastic Products was one of the sub-sectors of Chemical Products. With previously seven (7) sub-sectors, the major sector of Chemical Products has now six (6) sub-sectors, namely: Basic Chemical and Industrial Gases, Fertilizers, Paints, Drugs and Medicines, Cosmetics and Toilet Preparations and Miscellaneous Chemicals. The corresponding weights of the above major sectors and sub-sectors have been recomputed to allow for the revised computation of the indices. Weights for the 2008 PPI are based from the results of the 2005 Annual Survey of Philippine Business and Industry (ASPBI) for manufacturing establishments with average total employment (ATE) of 20 and over. Data of non-responding sample establishments are estimated based on previous records and other available sources. Revisions to the preliminary estimates are done upon receipt of actual reports of late respondents.
TABLE 1-A. PRODUCER PRICE INDEX, FEBRUARY -
MARCH 2008
TABLE 1-B. PRODUCER PRICE INDEX, FEBRUARY -
MARCH 2008
Note: -* new sector in the 2000-based series Sectors are ranked according to their contribution to the overall 2000-based March 2008 growth rate. Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1. Month-on-month growth rates are computed by dividing the current month index by previous month index less 1 Source: National Statistics Office Manila, Philippines Page last revised: May 6, 2008 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
