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.

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Philippines Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.20 52.50 57.50 31.60 2016 - 2021 points Monthly


News Stream
Philippines Manufacturing Growth Eases in March
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.
2021-04-05
Philippines Manufacturing PMI Unchanged
The IHS Markit Philippines Manufacturing PMI remained at 52.5 in February 2021, signaling a solid rate of expansion in factory activity, amid easing COVID-19 restrictions, with both output and new orders rising modestly. Meantime, firms raised their stocks of purchases, with the rate of growth the sharpest in over four years. Stocks of finished goods rose only marginally, however. Demand from overseas markets reportedly dwindled, with export orders falling solidly. Also, employment fell for the twelfth month running, but the rate of job shedding eased to the softest in the sequence. Suppliers' delivery time lengthened and was among the sharpest in the series history, due to persistent transportation restrictions. As for prices, input price inflation rose at the sharpest rate since October 2018, amid raw material shortages. Firms looked to pass on higher costs by raising their selling charges. Looking ahead, sentiment improved though still far below the long-run series average.
2021-03-01
Philippines Manufacturing PMI Highest in 25 Months
The IHS Markit Philippines Manufacturing increased to 52.5 in January 2021 from 49.2 in December, pointing to a turnaround in operating conditions after three straight months of contraction. This was the highest PMI reading since December 2018, amid a recovery from the downturn onset by the COVID-19 pandemic. Output rose solidly, and new orders grew the most since July 2019 amid improving customer demand. Also, buying activity went up for the first time in eleven months, with both pre-production inventories and stocks of finished goods being accumulated. Meanwhile, employment fell at the softest pace in the current eleven-month sequence of fall while the level of outstanding work dropped more. Also, export sales shrank as key export destinations applied strict pandemic restrictions. Regarding inflation, input prices went up at the fastest rate since November 2018, while selling prices rose at the steepest rate in nine months. Lastly, sentiment eased but remained positive.
2021-02-01
Philippines Factory Activity Shrinks for 3rd Month
The IHS Markit Philippines Manufacturing fell to 49.2 in December 2020 from 49.9 in the prior month. This was the third straight month of contraction in the manufacturing sector, amid ongoing lockdown restrictions and poor weather. Output contracted, with the rate of drop was among the fastest in the series history. Also, job shedding persisted at a strong rate which firms linked to restructuring efforts and voluntary resignations. Backlogs of work fell further, due to spare capacity due to weaker demand conditions. A combination of material shortages and social restrictions contributed to another monthly deterioration in vendor performance. On the cost front, input prices rose for the eighth straight month, while an increase in factory-gate charges that began in May continued, with the latest rise the joint-fastest in the sequence. Lastly, sentiment improved to its highest since February.
2021-01-04

Philippines Manufacturing PMI
The IHS Markit 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.