Value of Net Sales Index (VaNSI) continued to decline at a slower rate as it posted a year-on-year decrease of 15.8 percent in March 2009 from the previous month's fall of 20.3 percent. Among the 14 major sectors that reported decreases in sales, ten sectors significantly contributed to the decline, namely: leather products, petroleum products, furniture and fixtures, basic metals, textiles, miscellaneous manufactures, machinery except electrical, electrical machinery, wood and wood products, and paper and paper products. Refer to Tables 2-A and 3.

On a month-on-month basis, however, VaNSI, recovered by 12.7 percent in March 2009 from drops observed since October 2008. Improved sales performances were reported by 16 major sectors, led by transport equipment with 52.1 percent increase in sales value. Refer to Tables 2-A and 3.

Volume of Net Sales Index (VoNSI), on a year-on-year comparison, went down by 16.5 percent in March 2009. Twelve of the 16 major sectors reported significant decreases in sales volume, with leather products registering the highest decline of 73.8 percent. Refer to Tables 2-B and 4.

On the other hand, VoNSI on a month-on-month comparison, rebounded as it registered 12.4 percent growth in March 2009 from declines exhibited since October 2008. Twelve of the 17 major sectors that reported increases in sales volume, significantly contributed to the two-digit growth. Refer to Tables 2-B and 4.

Average capacity utilization in March 2009 for total manufacturing was estimated at 79.0 percent. Only eight (8) major sectors registered capacity utilization rates of 80% and more, namely: basic metals, food manufacturing, paper and paper products, leather products, chemical products, miscellaneous manufactures, electrical machinery, and rubber and plastic products. Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 11.4 percent in March 2009. About 63.7 percent of the establishments operated at 70% to 89% capacity while 24.9 percent of the establishments operated below 70% capacity.

The response rates for the March 2009 MISSI and PPS are 88.9 percent and 93.7 percent, respectively. Refer to Tables 7 and 8

Only the 2000 based series will be continued beginning the July 2008 issue.

Starting with the February 2008 issue, a revised industry disaggregation of the MISSI indices and PPI will be adopted to conform with the amended 1994 PSIC groupings. Rubber and Plastic Products is a new major sector, consisting of two subsectors, 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) subsectors, the major sector of Chemical Products has now six (6) subsectors, namely: Basic Chemicals and Industrial Gases, Fertilizers, Paints, Drugs and Medicines, Cosmetics and Toilet Preparations, and Miscellaneous Chemicals.

The major sector of Machinery except Electrical has been split into two subsectors, namely: Machinery and Equipment, n.e.c. and Office, Accounting and Computing Machinery.

The corresponding weights of the above major sectors and sub-sectors have been recomputed to allow for the revised computation of the indices.

Thus, beginning the February 2008 issue, the VaPI, VoPI, VaNSI, VoNSI and the revised PPI for Total Manufacturing for all months of 2008 are computed based on the revised industry disaggregation.

Starting 2008, weights for the PPI and Capacity Utilization Rates are based from the results of the 2005 Annual Survey of Philippine Business and Industry for manufacturing establishments with average total employment 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.