Value of Net Sales Index (VaNSI) continued to grow, reflecting an annual increment of 9.2 percent in November 2012.The major contributing factor was the expansion in sales of 15 major sectors of manufacturing industry led by footwear and wearing apparel, with a three-digit growth of 150.9 percent. This was followed by other eight major sectors that posted two-digit increases, namely: non-metallic mineral products (51.2%), textiles (38.5%), electrical machinery (34.5%), publishing and printing (22.9%), transport equipment (19.2%), miscellaneous manufactures (18.2%), food manufacturing (15.9%) and wood and wood products (11.3%). Refer to Tables 2-A and 3.

On a monthly basis, VaNSI went down 2.5 percent in November 2012. Nine major sectors reported a month-on-month decreases in sales value, led by electrical machinery with 10.2 percent decline. Refer to Tables 2-A and 3.

Volume of Net Sales Index (VoNSI) continued a two-digit growth rate, registering at 12.6 percent in November 2012. Footwear and wearing apparel contributed significantly to the increase with 157.5 percent growth, followed by eight major sectors that registered two-digit growth in net sales volume, namely: electrical machinery (52.5%), non-metallic mineral products (49.0%), textiles (37.1%), wood and wood products (25.3%), miscellaneous manufactures (23.1%), machinery except electrical (18.6%), publishing and printing (15.9%) and transport equipment (15.8%). Refer to Tables 2-B and 4.

On a month-on-month comparison, VoNSI fell 1.7 percent in November 2012. This was due to decline in sales output of eight major sectors, offsetting the increases reported by 12 major sectors. Refer to Tables 2-B and 4.

Average capacity utilization in November 2012 for total manufacturing stood at 83.3 percent. Eleven of the 20 major sectors registered capacity utilization rates of 80 percent or more, namely:

• petroleum products (87.9%)
• basic metals (87.7%)
• food manufacturing (87.1%)
• non-metallic mineral products (84.3%)
• machinery except electrical (84.0%)
• electrical machinery (83.4%)
• rubber and plastic products (82.5%)
• chemical products (82.2%)
• paper and paper products (81.7%)
• miscellaneous manufactures (81.1%)
• wood and wood products (80.4%)

The proportion of establishments that operated at full capacity (90% to 100%) was 19.4 percent in November 2012. About 57.2 percent of the establishments operated at 70% to 89% capacity while 23.4 percent of the establishments operated below 70% capacity.

The Monthly Integrated of Selected Industries (MISSI) is one of the designated statistical activities undertaken by the National Statistics Office to provide flash indicators on the performance of growth-oriented industries in the manufacturing sector. The survey gathers monthly data on employment, compensation, production, net sales, inventories and capacity utilization.

Beginning with the January 2012 MISSI, the monthly report for the survey will be released earlier, that is, 45 days after each reference month instead of the 55 days.

The indicators generated from the 2012 MISSI are Value of Production Index (VaPI), Volume of Production Index (VoPI), Value of Net Sales (VaNSI), and Volume of Net Sales (VoNSI). However, the VoPI and VoNSI are derived indicators utilizing the 2012 Producer Price Index as deflator.

The MISSI utilizes the Laspeyres-type method of index computation where the weights are computed from the value of production of the Census of Philippine Business and Industry (CPBI).

For the 2012 MISSI index series with base year of 2000, the weights of the major sectors and sub-sectors were computed from the results of the 2000 CPBI for manufacturing establishments with average total employment of 20 and over. The weights are computed from the value of products sold plus change in inventories.

The formulas in the computation are as follows:

The industry coverage of the 2012 MISSI conforms with the amended 1994 PSIC groupings. There are 20 major sectors as shown below with 10 further disaggregated into sub-sectors.

1994 PSIC CODE	INDUSTRY DESCRIPTION
15 except 155	Food Manufacturing*
155	Beverages
16	Tobacco products
17	Textiles*
18,174 and 192	Footwear and wearing apparel
191	Leather products
20	Wood and wood products*
21	Paper and paper products
22	Publishing and printing
23	Petroleum products*
24	Chemical products*
25	Rubber and plastic products*
26	Non-metallic mineral products*
27	Basic metals*
28	Fabricated metal products
29 and 30	Machinery except electrical*
31 and 32	Electrical machinery*
34 and 35	Transport equipment
36	Furniture and fixtures
33, 37 and 39	Miscellaneous manufactures

                                             Note: * - Major sectors categorized into sub-sectors

The response rates for the November 2012 MISSI and 2012 PPS are 75.2 percent and 92.1 percent, respectively. Refer to Tables 7 and 8