The IHS Markit Philippines Manufacturing PMI fell to a three-month low of 52.2 in March 2021 from 52.5 a month earlier. The latest reading indicated a modest improvement in the health of the sector, as output growth was the joint-fastest since June 2019, while new orders increased marginally. Meanwhile, employment declined for the 13th consecutive month in a row, while firms were still able to clear their backlogs of work, with the rate of depletion in outstanding business sharp overall. On the price front, input costs rose at a sharp and accelerated pace, while output price inflation was the steepest since November 2018. Finally, the outlook for production remained in positive territory, on hopes of stronger economic conditions. source: Markit Economics
Manufacturing PMI in Philippines averaged 51.92 points from 2016 until 2021, 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 April of 2021.
Manufacturing PMI in Philippines is expected to be 53.00 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 55.00 in 12 months time. In the long-term, the Philippines Manufacturing PMI is projected to trend around 53.00 points in 2022, according to our econometric models.