Philippines Manufacturing PMI Returns to Contraction

2025-12-01 01:16 By Czyrill Jean Coloma 1 min. read

The S&P Global Philippines Manufacturing PMI slipped to 47.4 in November 2025 from 50.1 in the previous month, signaling a return to contraction territory.

It marked the sharpest deterioration since August 2021, as both output and new orders fell for the third consecutive month and at the fastest pace since that period, mainly due to disruptions to business activity caused by recent typhoons.

Moreover, manufacturers reduced staffing for the first time since May, although the overall rate of job losses remained modest, reflecting a combination of layoffs and non-renewal of contracts.

On the price front, inflationary pressures remained relatively subdued, with input costs easing to a four-month low while output prices rose slightly.

Nevertheless, manufacturers showed increasing confidence in output growth over the year ahead.

Overall sentiment was the strongest since November 2024, supported by expectations of new projects, higher orders, economic growth, and expanded marketing efforts.



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