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.

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Philippines Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
47.30 48.40 57.50 31.60 2016 - 2020 points Monthly


News Stream
Philippines Manufacturing Contracts for 6th Month
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 impose stricter quarantine measures in Manila following the recent rise in new COVID-19 cases. Output fell faster, while new orders shrank 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.
2020-09-01
Philippines Manufacturing Shrinks for 5th Month
The IHS Markit Philippines Manufacturing dropped to 48.4 in July 2020 from 49.7 in the prior month. This was the fifth straight month of contraction in factory activity, with parts of the country experiencing further lockdown restrictions, such as in Manila and Cebu. Firms saw a renewed fall in output levels, as new work continued to decline and export demand weakened sharply. Also, employment shrank for the fifth month in a row, with the rate of job shedding being the most marked since March and backlogs declining at the steepest rate in four months. On the price front, input prices rose for the third month running and at the fastest pace in nearly 1-1/2 years, amid higher oil prices. Meantime, output charges rose marginally and weaker than the uptick in input costs. Lastly, confidence weakened for the first time since March, due to concerns of the long-term impact from the pandemic.
2020-08-03
Philippines Manufacturing Closes to Stabilization
The IHS Markit Philippines Manufacturing jumped to 49.7 in June 2020 from 40.1 a month earlier, amid the relaxation of quarantine measures relating to the coronavirus disease, with output increasing for the first time since February. In addition, export orders fell at the softest rate in four months. Meantime, new orders continued to decline though softer, which led to a further sharp cut in employment and drops in both purchases and inventories. On the price front, input cost inflation soared to a 16-month high as firms saw a quicker increase in supplier prices amid transport difficulties and higher freight charges. Meanwhile, selling prices rose slightly, despite discount offerings to customers. Lastly, sentiment reached its highest since February, on hopes that further relaxation of Covid-19 quarantine measures would help firms to regain customers and resume plans to develop new products.
2020-07-01
Philippines Factory Activity Shrinks for 3rd Month
The IHS Markit Philippines Manufacturing went up to 40.1 in May of 2020 from a record low of 31.6 in the previous month, pointing to the third straight month of contraction in the sector, amid strict public health measures to contain the COVID-19 pandemic. Output levels were subdued, with businesses facing weaker sales from both domestic and international markets, as many foreign clients remained under lockdown measures. Also, employment continued to drop amid excess capacity, while purchases were heavily reduced. In terms of inflation, higher raw material prices led to a slight uptick in input costs, the first in three months. Meanwhile, output charges rose marginally as firms partially passed higher input prices on to clients. Looking ahead, business sentiment continued to improve.
2020-06-01

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.