Value of production and net sales for total manufacturing increased in June 1999 by 2.3 percent and 2.0 percent respectively compared to a year ago according to the preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI).

However, volume of production and net sales posted year-on-year declines of 1.1 percent and 3.0 percent, respectively.

Food manufacturing, tobacco and chemicals showed increases in both production and sales. Food and chemicals in particular gained from increases in both domestic and export demand. On the other hand, beverages, textile, wearing apparel, wood, furniture, paper, petroleum, basic metals, and non-metallic mineral products posted decreases in both production and sales. This can be attributed to the general slowdown in manufacturing activities.

Production and sales of tobacco and chemical manufactures improved due to inventory management even as their use of existing capacity was reduced. On the other hand, inventory buildup was observed in rubber products and miscellaneous manufactures.

Introduction

These results were based on the interim monthly Integrated Survey of Selected Industries (MISSI), a monthly survey of the National Statistics Office with the Department of Trade and Industry. This will eventually provide flash indicators on the performance of industrial enterprises such as production, sales, employment, and compensation, inventory of raw materials and finished products, and capacity utilization. The MISSI is a key feature arising from a Memorandum of Understanding (MOU) forged between the two offices along with the National Statistical Coordination Board, the Federation of Philippine Industries and the Philippine Chamber of Commerce and Industry.