Date Released: July 08, 2008
PRODUCER PRICE SURVEY May 2008
The Producer Price Index (PPI, 2000=100) for the manufacturing industry rose to 3.7 percent in May 2008, up from 0.7 percent a year ago, according to the preliminary results of the Monthly Producer Price Survey. Moreover, the growth was more than twice the rate of 1.6 percent recorded in April 2008. Thirteen (13) major sectors contributed to the increase, with two-digit growth observed in petroleum products (35.6%) and basic metals, (17.3%). On the other hand, the remaining seven (7) major sectors posted drops in producer price, led by miscellaneous manufactures (-12.2%). Refer to Tables 2 and 1-A. On a month-on-month basis, PPI also reflected an increase of 1.8 percent in May 2008. Price increments were observed in fifteen (15) major sectors led by petroleum products which contributed significant increase of 12.8 percent. Refer to Tables 2 and 1-B.
The response rate for May 2008 is 90.3 percent, which corresponds to the retrieval of 279 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 Chemicals and Industrial Gases, Fertilizers, Paints, Drugs and Medicines, Cosmetics and Toilet Preparations and Miscellaneous Chemicals. The corresponding weights of the above 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, APRIL -
MAY 2008
TABLE 1-B. PRODUCER PRICE INDEX, APRIL -
MAY 2008
Note: 2/ - Less than 0.1 percent decrease * - new sector in the 2000-based series Sectors are ranked according to their contribution to the overall 2000-based 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: July 8, 2008 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
