Philippine Industrial Output Recovers to 4-Month High

Manufacturing production in the Philippines climbed 1.9% year-on-year in December 2025, recovering from a downwardly revised 1% decline in the previous month. This marked the highest reading since August, mainly driven by a faster annual increase in the manufacture of other non-metallic mineral products (29.5% vs 4.4% in November), which contributed 23.2% to the overall uptrend in manufacturing production. Activity also rebounded in machinery and equipment except electrical (9.7% vs -11.1%), and other manufacturing and repair and installation of machinery and equipment (13.8% vs -4.4%). In addition, output rose for transport equipment (6.7% vs 0.2%). Meanwhile, production growth slowed for leather and related products (4.6% vs 27.7%), and wood, bamboo, cane, and rattan products (3.4% vs 17.5%). On a seasonally adjusted monthly basis, industrial activity jumped 4.7%, rebounding from a 3.2% fall in the prior month.

Manufacturing production in the Philippines dropped to 1.4% year-on-year in November 2025 from a downwardly revised 1.5% gain in the previous month. This marked the lowest growth in industrial activity since July as output decreased mostly for computer, electronic, and optical products (16.1% vs 17.4% in October), food products (4.3% vs 8.6%), basic pharmaceutical products and pharmaceutical preparations (9.3% vs 20.5%), wood, bamboo, cane, and rattan products (6.6% vs 14.9%), and transport equipment (0.4% vs 1.1%). At the same time, activity contracted for textiles (-11.8% vs 6.3%), furniture (-14.9% vs 7.5%), and rubber and plastic products (-5.3% vs 1.7%). On the other hand, activity increased for electric equipment (12% vs 1.5%), tobacco products (15.7% vs 9.3%), and leather and related products including footwear (28.3% vs 21%). On a seasonally adjusted monthly basis, industrial activity fell 3.2% in November, following a 0.4% decline in the preceding period.

The annual manufacturing production in the Philippines edged up to 1.7% in October 2025 from a downwardly revised 1.6% growth in the previous month. Output increased mostly for computer, electronic, and optical products (16.8% vs 4.8% in September), basic pharmaceutical products and pharmaceutical preparations (20.8% vs 9.1%), beverages (4.3% vs 1.5%), and furniture (7.6% vs 1.1%). Production also rebounded for wood, bamboo, cane, and rattan products (15.1% vs -6.3%), other non-metallic mineral products (2.8% vs -0.8%), and rubber and plastic products (2.4% vs -1.9%). Meanwhile, activity declined for paper and paper products (-2.7% vs 2.0%), and output continued to fall for wearing apparel (-17.3% vs -7.9%), machinery and equipment except electrical (-12.3% vs -3.1%), and basic metals (-22.5% vs -10.9%). On a seasonally adjusted monthly basis, industrial activity fell by 0.4%, easing from a 1.0% drop in the previous period.