The S&P Global Philippines Manufacturing PMI fell to 51.3 in March 2026 from 54.6 in February, marking a three-month low. Softer expansions in output and new orders were attributed largely to the war in the Middle East, which also led to a modest decline in new export sales. As a result, firms broadly paused purchasing activity, while inventories of pre-production items fell modestly for the first time in four months. Input prices surged amid higher energy costs and material shortages, causing operating expenses and factory gate charges to rise sharply. Employment growth continued for a third consecutive month but at the slowest pace in this sequence, while backlogs of work increased at the fastest rate in four months due to delays in receiving inputs. Despite these challenges, manufacturers’ sentiment regarding the 12-month outlook improved to a four-month high, with firms hopeful that easing geopolitical tensions and demand conditions will support growth in the year ahead. source: S&P Global

Manufacturing PMI in Philippines decreased to 51.30 points in March from 54.60 points in February of 2026. Manufacturing PMI in Philippines averaged 51.76 points from 2016 until 2026, reaching an all time high of 57.50 points in September of 2016 and a record low of 31.60 points in April of 2020. This page provides - Philippines Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Manufacturing PMI in Philippines decreased to 51.30 points in March from 54.60 points in February of 2026. Manufacturing PMI in Philippines is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Manufacturing PMI is projected to trend around 52.00 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 29.70 23.20 points Dec 2025
Capacity Utilization 77.80 77.60 percent Jan 2026
Changes in Inventories -35823.25 -21181.02 PHP Million Dec 2025
Corruption Index 32.00 33.00 Points Dec 2025
Corruption Rank 120.00 114.00 Dec 2025
Industrial Production YoY 2.70 2.80 percent Jan 2026
Total Vehicle Sales 7047.00 6178.00 Units Feb 2026


Philippines Manufacturing PMI
The S&P Global Philippines Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 450 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Philippine Manufacturing Growth Cools in March
The S&P Global Philippines Manufacturing PMI fell to 51.3 in March 2026 from 54.6 in February, marking a three-month low. Softer expansions in output and new orders were attributed largely to the war in the Middle East, which also led to a modest decline in new export sales. As a result, firms broadly paused purchasing activity, while inventories of pre-production items fell modestly for the first time in four months. Input prices surged amid higher energy costs and material shortages, causing operating expenses and factory gate charges to rise sharply. Employment growth continued for a third consecutive month but at the slowest pace in this sequence, while backlogs of work increased at the fastest rate in four months due to delays in receiving inputs. Despite these challenges, manufacturers’ sentiment regarding the 12-month outlook improved to a four-month high, with firms hopeful that easing geopolitical tensions and demand conditions will support growth in the year ahead.
2026-04-01
Philippine Manufacturing PMI Hits Over 8-Year High
The S&P Global Philippines Manufacturing PMI increased to 54.6 in February 2026 from 52.9 in January. This marked the third consecutive month of growth and the strongest performance since November 2017. Manufacturers reported that sustained growth in new orders led them to raise production levels, achieving the quickest pace of output growth since November 2018. As a result, firms expanded their purchasing activity at the sharpest rate since January 2025 and stepped up inventory-building efforts. They also increased staffing numbers for a second consecutive month; however, these measures were not enough to prevent a renewed accumulation of work backlogs, which rose at the fastest pace in three months. On the pricing front, manufacturers noted falling operating costs, which allowed them to reduce their own charges. Finally, sentiment regarding the 12-month outlook for output improved, rebounding notably from the recent low recorded in the previous month.
2026-03-02
Philippines Manufacturing PMI Hits 9-Month High
The S&P Global Philippines Manufacturing PMI rose to 52.9 in January 2026 from 50.2 in December, marking the highest level since April 2025. New orders continued to increase, supported by a renewed rise in export orders. As a result, production returned to expansion territory for the first time in five months. Higher production requirements prompted firms to expand their workforce after two consecutive months of modest declines, helping to reduce backlogs of work. Additionally, purchasing activity grew at its fastest pace in a year, while input inventories rose for the first time in three months. Price pressures remained subdued, with input cost inflation broadly unchanged from December’s recent low and only marginal overall, while prices charged rose only slightly. However, business confidence for the year ahead deteriorated sharply, recording its second-weakest reading on record, behind that seen in March 2020.
2026-02-02