Value of Production Index (VaPI) continued to slow down
Value of Production Index (VaPI) of the manufacturing industry in October 2001 registered single digit year-on-year increases both in 1994 and 1985-based series at 2.2 percent and 0.5 percent, respectively, according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).
YEAR-ON-YEAR GROWTH RATES OF VaPI
TOTAL MANUFACTURING
| Series |
October 2001 |
September 2001
(revised) |
| 1994-based |
2.2 |
9.9 |
| 1985-based |
0.5 |
4.4 |
Only food manufacturing posted double-digit year-on-year increases both in 1994 and 1985-based series (see Annex 1-A).
On the other hand, VaPI continued to decline on a month-on-month basis at 1.1 percent in both the 1994 and 1985-based series, respectively. This was due to the double-digit decreases of beverage for both series.
Volume of Production Index (VoPI) continued to decline
The VoPI declined further by 10.1 percent in the 1994-based series and showed a minimal decrease of 0.2 percent in the 1992-based series. Paper and paper products posted the highest decrease of 31.7 percent in the 1994-based series. Double-digit decreases for both series were observed in the following sectors: petroleum products, beverage, basic metals, non-metallic mineral products, paper and paper products, miscellaneous manufacture and rubber products (see Annex 1-B).
YEAR-ON-YEAR GROWTH RATES OF VoPI
TOTAL MANUFACTURING
| Series |
October 2001 |
September 2001
(revised) |
| 1994-based |
- 10.1 |
- 4.6 |
| 1992-based |
- 0.2 |
2.0 |
Value of net sales decreased
Value of net sales in October 2001 decreased by a single-digit at 1.2 percent in the 1994-based series but posted a slower growth of 4.7 percent compared with the previous month’s figure in the 1985-based series. Tobacco, paper and paper products and rubber products registered double-digit decreases in their value of net sales in both series (see Annex 2-A).
YEAR-ON-YEAR GROWTH RATES OF VALUE OF NET SALES
TOTAL MANUFACTURING
| Series |
October 2001 |
September 2001
(revised) |
| 1994-based |
- 1.2 |
5.9 |
| 1985-based |
4.7 |
8.7 |
Volume of net sales declined in the 1994-based series
The volume of net sales in October 2001 continued to fall down at 7.7 percent in the 1994-based series due to the decline in electrical machinery sector. However, volume of net sales in the 1992-based series increased by 4.0 percent. Tobacco, paper and paper products and rubber products registered double-digit decreases for both series (see Annex 2-B).
YEAR-ON-YEAR GROWTH RATES OF VOLUME OF NET SALES
TOTAL MANUFACTURING
| Series |
October 2001 |
September 2001
(revised) |
| 1994-based |
- 7.7 |
- 2.9 |
| 1992-based |
4.0 |
3.2 |
Producer’s price index continued to post increases
Producer’s price index (PPI) for total manufacturing increased by 13.7 percent and 0.7 percent in the 1994 and 1992-based series, respectively. Double-digit year-on-year increases for both series were observed in the following sectors: tobacco, publishing and printing and cement.
YEAR-ON-YEAR GROWTH RATES OF PRODUCER’S PRICE INDEX
TOTAL MANUFACTURING
| Series |
October 2001 |
September 2001
(revised) |
| 1994-based |
13.7 |
15.2 |
| 1992-based |
0.7 |
2.4 |
Capacity Utilization
The proportions of responding establishments that operated at full capacity (90%-100%) in October 2001 were 21.8 percent and 21.5 percent in the 1994 and 1985-based series, respectively. About 37.7 percent of the responding establishments operated at 70%-89% capacity in the 1994-based series, lower by 1.8 percentage points than the 1985-based series at 39.5 percent. On the other hand, those operating below 70% capacity accounted for 40.5 percent and 39.0 percent in the 1994-based and 1985-based series, respectively.
DISTRIBUTION OF KEY MANUFACTURING ESTABLISHMENTS BY CAPACITY UTILIZATION
TOTAL MANUFACTURING, OCTOBER 2001
(In percent)
| Capacity Utilization |
1994-based |
1985-based |
| Below 50% |
14.8 |
13.3 |
| 50% – 59% |
8.5 |
8.5 |
| 60% - 69% |
17.2 |
17.2 |
| 70% - 79% |
18.0 |
18.6 |
| 80% - 89% |
19.7 |
20.9 |
| 90% - 100% |
21.8 |
21.5 |
Average capacity utilization rate for October 2001 for total manufacturing was estimated at 75.9 percent in the 1994-based, 1.0 percentage point lower than the 76.9 percent in the 1985-based. The sectors that posted more than 80% capacity utilization rates for both series were tobacco, rubber products, petroleum products and miscellaneous manufacture(see Annex 3-A).
AVERAGE CAPACITY UTILIZATION FOR TOTAL MANUFACTURING
(In percent)
| Series |
October 2001 |
September 2001
(revised) |
| 1994-based |
75.9 |
75.4 |
| 1985-based |
76.9 |
76.1 |
Response Rates (1994-based and 1985-based series)
In October 2001, the response rates in the 1994-based and 1985-based series were 78.9 and 80.6 percent, respectively. The survey results were based on the responses of 484 and 437 sample establishments for both series (see Table 4).
