In separate reports by Philippine Star and Business World, prices changed last February; whether it dropped or shot up, the two sources are not quite same on their reports. Construction materials suppliers in Metro Manila might find this discrepancy interesting.
Both articles discuss how prices have changed with Business World claiming that it continually rose from an already accelerating pricing from January. Philippine Star however attributes the slowing down of the wholesale prices of construction materials because the uptick last January pales pricing of the following month by comparison.
The sources also gave the same data from the construction materials wholesale price index (CMWPI), showing that there was a 1.5% increase on February compared to January’s 1.8%.
Among the construction materials supplier items that were cited to have declined in prices on both reports are doors, jambs, steel casement, fuels, lubricants and plywood. Rise in prices are noted by Philippine Star for reinforcing structural steel, galvanized iron sheets, lumber, hardware, and tileworks. Business World included asphalt, equipment rental, glass products, machinery, painting works, and PVC pipes.
Both articles discuss how prices have changed with Business World claiming that it continually rose from an already accelerating pricing from January. Philippine Star however attributes the slowing down of the wholesale prices of construction materials because the uptick last January pales pricing of the following month by comparison.
The sources also gave the same data from the construction materials wholesale price index (CMWPI), showing that there was a 1.5% increase on February compared to January’s 1.8%.
Among the construction materials supplier items that were cited to have declined in prices on both reports are doors, jambs, steel casement, fuels, lubricants and plywood. Rise in prices are noted by Philippine Star for reinforcing structural steel, galvanized iron sheets, lumber, hardware, and tileworks. Business World included asphalt, equipment rental, glass products, machinery, painting works, and PVC pipes.
So where are the underlying differences in the two seemingly similar reports? We surmise that while Philippine Star was making comparisons to the previous month’s growth, while Business World looks to the year in retrospect.
So what can we expect in the following months? According to Ruben Carlo Asuncion of UnionBank of the Philippines, we might be looking at a lesser demand for materials in the future. This could spell a drop in overall wholesale pricing for construction materials suppliers. Jesus Arranza, Chairman of Federation of Philippine Industries, however says that we should expect costs to be higher because while there has been a drop in demand, there is equally a cessation in production.
So what can we expect in the following months? According to Ruben Carlo Asuncion of UnionBank of the Philippines, we might be looking at a lesser demand for materials in the future. This could spell a drop in overall wholesale pricing for construction materials suppliers. Jesus Arranza, Chairman of Federation of Philippine Industries, however says that we should expect costs to be higher because while there has been a drop in demand, there is equally a cessation in production.
