The IHS Markit Philippines Manufacturing fell to 47.3 in August 2020 from 48.4 in July, pointing to the sixth straight month of contraction as the government imposed stricter quarantine measures in Manila following the recent rise in new COVID-19 cases. Output fell faster, while new orders contracted the most in three months. Export sales fell, but at a modest rate, while employment declined the least in three months and stocks of purchased items fell for the sixth month running. At the same time, finished goods inventories dropped solidly. Delivery times lengthened again as has been the case in each month since August 2019. On the cost front, input prices rose at the sharpest pace since February 2019 due to supplier shortages and increased import costs. Overall output charges rose modestly, with some firms continuing to offer discounts in order to stimulate sales. Looking ahead, confidence remained subdued.
Manufacturing Pmi in Philippines averaged 52.08 points from 2016 until 2020, 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. Philippines Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Markit Economics
Manufacturing Pmi in Philippines is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Philippines to stand at 53.00 in 12 months time. In the long-term, the Philippines Manufacturing PMI is projected to trend around 53.40 points in 2021 and 53.00 points in 2022, according to our econometric models.