The S&P Global Philippines Manufacturing PMI edged down to 54.1 in May 2022 from a a near 4-1/2-year high of 54.3 a month earlier. That said, the latest reading was the ninth straight month of increase in factory activity, with both output and new orders moderating from the recent highs experienced in the previous survey period. Nonetheless, workforce numbers rose for the first time since February 2020, with backlogs of works continuing to deplete. Additionally, post-production inventories rose at the fastest pace since December 2016. May data also signaled a further deterioration in vendor performance, as lead times lengthened. On the price front, input costs and output charges continued to increase at some of the quickest rates on record. Paces of inflation slowed for the second month running from the survey highs seen in March, but remained historically elevated. Looking ahead, confidence softened. source: Markit Economics
Manufacturing PMI in Philippines averaged 51.78 points from 2016 until 2022, 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 June of 2022.
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. In the long-term, the Philippines Manufacturing PMI is projected to trend around 53.00 points in 2023, according to our econometric models.