The S&P Global Philippines Manufacturing PMI fell to 49.6 in September 2026 from August’s over nine-year high of 54.9, signaling the first deterioration in manufacturing conditions since April. Output declined for the first time in nine months and at the sharpest pace since November 2025, amid weaker new order inflows and increased international competition, with new export orders also falling. Manufacturers subsequently cut jobs again, albeit only slightly, while work backlogs dropped at the fastest pace since April. Firms also reduced input buying for the first time since May and cut both pre- and post-production inventories, with the latter falling at the quickest pace in five months. Supplier delivery times lengthened sharply and to one of the greatest degrees in almost two years. On prices, output charge inflation accelerated despite input cost inflation easing to a three-month low. Business confidence fell notably from August’s 21-month high, falling to its lowest since January. source: S&P Global

Manufacturing PMI in Philippines decreased to 49.60 points in September from 54.90 points in August of 2026. Manufacturing PMI in Philippines averaged 51.73 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 49.60 points in September from 54.90 points in August of 2026. 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. In the long-term, the Philippines Manufacturing PMI is projected to trend around 52.00 points in 2027 and 52.30 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence -10.90 -20.30 points Aug 2026
Capacity Utilization 78.70 78.80 percent Aug 2026
Changes in Inventories 38542.00 -6553.00 PHP Million Jun 2026
Corruption Index 32.00 33.00 Points Dec 2025
Corruption Rank 120.00 114.00 Dec 2025
Industrial Production YoY 10.80 9.90 percent Aug 2026
Total Vehicle Sales 7799.00 6784.00 Units Sep 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
Philippines Factory Activity Falls for First Time in 5 Months
The S&P Global Philippines Manufacturing PMI fell to 49.6 in September 2026 from August’s over nine-year high of 54.9, signaling the first deterioration in manufacturing conditions since April. Output declined for the first time in nine months and at the sharpest pace since November 2025, amid weaker new order inflows and increased international competition, with new export orders also falling. Manufacturers subsequently cut jobs again, albeit only slightly, while work backlogs dropped at the fastest pace since April. Firms also reduced input buying for the first time since May and cut both pre- and post-production inventories, with the latter falling at the quickest pace in five months. Supplier delivery times lengthened sharply and to one of the greatest degrees in almost two years. On prices, output charge inflation accelerated despite input cost inflation easing to a three-month low. Business confidence fell notably from August’s 21-month high, falling to its lowest since January.
2026-10-01
Philippines Factory Growth Strongest Since 2016
The S&P Global Philippines Manufacturing PMI rose to 54.9 in August 2026 from 51.8 in July, marking the fourth consecutive month of growth and the strongest improvement in factory conditions since December 2016. New orders increased at the fastest pace in six months, while new export orders returned to growth for the first time in six months. Manufacturing output also expanded at its fastest rate since December 2016, and firms increased purchasing activity at the fastest pace in six months, while inventories of purchases rose for the first time since February despite supplier delays. Employment increased for the first time in five months, with job creation reaching its strongest pace in 21 months. Meanwhile, input cost pressures eased notably from July, while output inflation slowed to its weakest in six months. Business confidence surged to its highest level since November 2024, supported by expansion plans, new product launches and expectations of stronger orders and customer wins.
2026-09-01
Philippines Factory Activity Growth at 5-Month High
The S&P Global Philippines Manufacturing PMI rose to 51.8 in July 2026 from 50.9 in June, marking the third consecutive month of growth and the strongest since February. Stronger underlying demand and new project wins drove the fastest growth in new orders and output in five months, prompting manufacturers to increase purchasing activity. However, firms drew down both raw material and finished goods inventories to meet rising demand as supplier delivery times deteriorated sharply, largely due to supply chain disruptions linked to the Middle East conflict. Employment declined after stabilizing in June, reflecting voluntary resignations and firms' reluctance to replace departing workers. Meanwhile, input costs and selling prices accelerated to above their long-run averages as higher costs were passed on to customers. Despite stronger business activity, confidence remained historically subdued as ongoing geopolitical uncertainty and inflationary pressures continued to cloud the outlook.
2026-08-03