The IHS Markit Philippines Manufacturing PMI sank to 46.4 in August 2021 from 50.4 in July. This was the first contraction in factory activity since May, after the re-introduction of tight curbs in Metro Manilla that forced factory and business closures in one of the country's largest manufacturing regions. Output fell for the fifth month in a row, with the rate of decline quickening to one which was the fourth quickest in the series history, new orders shrank the most since the survey began, and exports contracted at the steeper rate since July 2020. Also, employment shrank sharply; while buying levels dropped solidly Delivery times lengthened the most since August 2020 and were among the lengthiest in over 5-1/2-year history of the survey. On the price front, cost pressures showed signs of easing, with output and input price inflation moderating slightly. Lastly, sentiment weakened to a four-month low, though still remained positive. source: Markit Economics
Manufacturing PMI in Philippines averaged 51.73 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 September of 2021.
Manufacturing PMI in Philippines is expected to be 48.00 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 53.00 points in 2022, according to our econometric models.