Date Released: January 4, 2013
PRODUCER PRICE SURVEY NOVEMBER 2012
Producer Price Index (PPI, 2000=100) for the manufacturing industry continued to decrease by 2.8 percent in November 2012, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. Three major sectors posted double-digit decreases led by furniture and fixtures, with a decrement of 15.5 percent. The two other sectors that posted significant decreases were: electrical machinery (-11.5%) and wood and wood products (-11.2%). On the other hand, increases in the PPI were observed in eight major sectors led by food manufacturing (6.2%). Refer to Tables 1 and 1-B. On a month-on-month performance, PPI dropped 0.6 percent in November 2012 from -0.9 percent in October 2012. This was brought about by decreases registered by nine major sectors led by furniture and fixtures (-5.6%). On the other hand, four sectors posted increases in PPI led by non-metallic mineral products (0.6%) while seven major sectors posted flat growths. Refer to Tables 1 and 1-B.
The National Statistics Office generates various price indices, one of this is the Producer Price Index. (PPI). The PPI is generated through the results of the Producers Price Survey (PPS) conducted nationwide. The survey gathers monthly actual producer prices of selected products included in the market basket. The PPI is the deflator of the Monthly Integrated Survey of Selected Industries (MISSI) to derive indicators for the Volume of Production Index (VoPI) and Volume of Net Sales Index (VoNSI). PPI utilizes the Paasche-type method of index computation. The weights are computed from the value of production to derive concentration ratios from the Census of Philippine Business and Industry (CPBI) or Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI or CPBI are available and applied at the beginning of each survey year. For the 2012 PPI, the weights of the major sectors and sub-sectors were computed from the results of the 2009 ASPBI for Manufacturing Establishments with total employment of 20 and over, which is the latest survey results. The formulas in the computation of the PPI are as follows:
The industry classification of the 2012 PPI utilizes the amended 1994 Philippine Standard Industry classification. There are 20 major sectors covered by the 2012 PPS with three consisting of subsectors.
Note: * - Major sectors categorized into sub-sectors The response rate for November 2012 is 83.0 percent, which corresponds to the retrieval of 274 sample establishments’ reports. Refer to Table 2.
Non-responding sample establishments are estimated using cold-deck imputation method. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.
TABLE 1-A. PRODUCER PRICE INDEX,
OCTOBER 2012 - NOVEMBER 2012
TABLE 1-B. PRODUCER PRICE INDEX,
OCTOBER 2012 - NOVEMBER 2012
Note: Sectors are ranked according to their contribution to the overall 2000-based growth rate. a/ - Less than 0.1 percent increase b/ - Less than 0.1 percent decrease 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: January 4, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
