Value of Net Sales Index (VaNSI), on a yearly comparison, dipped by 0.2 percent in March 2008. The decline was exhibited by twelve (12) major sectors, with two-digit decreases observed in the following: machinery except electrical, miscellaneous manufactures, textiles, electrical machinery, publishing and printing, furniture and fixtures, and basic metals. Refer to Tables 2-A and 9.

On a month-on-month basis, however, VaNSI, rose by 7.3 percent in March 2008. This was due to the significant sales performance of thirteen (13) major sectors, with two-digit increases observed in the following: beverages, non-metallic mineral products, footwear and wearing apparel, petroleum products, furniture and fixtures, and food manufacturing. Refer to Tables 2-A and 9.

Volume of Net Sales Index (VoNSI), on a year-on-year basis, slid by 0.2 percent in March 2008. This was brought about by the significant reduction in sales volume reported by the following major sectors: machinery except electrical, textiles, publishing and printing, basic metals, electrical machinery, and leather products. Refer to Tables 2-B and 10.

VoNSI, on a month-on-month basis, expanded by 6.4 percent in March 2008. Major sources of increases were observed in the following sectors: beverages, non-metallic mineral products, and footwear and wearing apparel. Refer to Tables 2-B and 10.

Average capacity utilization in March 2008 for total manufacturing was estimated at 80.2 percent. Nine (9) major sectors that registered more than 80% capacity utilization rates were the following: basic metals, leather products, food manufacturing, paper and paper products, miscellaneous manufactures, petroleum products, electrical machinery, chemical products (excluding plastic products), and rubber and plastic products Refer to Table 6.

The proportion of establishments that operated at full capacity (90% to 100%) was 9.7 percent in March 2008. More than half or 59.1 percent of the establishments operated at 70% to 89% capacity while 31.2 percent of the establishments operated below 70% capacity.

The response rates for the March 2008 MISSI and PPS are 91.4 percent and 94.5 percent, respectively. Refer to Tables 12 and 13.

The 1994 based MISSI indices and the PPI will have the December 2007 data as the last of the series. Only the 2000 based series will be continued in 2008.

Starting the February 2008 issue, a revised industry disaggregation of the MISSI indices and PPI will be adopted to conform to 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 Chemical 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 this 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.