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.

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Philippines Manufacturing PMI



Related Last Previous Unit Reference
Manufacturing PMI 54.10 54.30 points May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
54.10 54.30 57.50 31.60 2016 - 2022 points Monthly

News Stream
Philippines Factory Growth Stays Robust
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.
2022-06-01
Philippines Manufacturing PMI Highest in 4-1/2 Years
The S&P Global Philippines Manufacturing PMI was up to 54.3 in April 2022 from 53.2 in March, pointing to the highest reading since November 2017. Output and new orders rose for the third month running, with the respective rates of growth both accelerating from March to the quickest since November 2018, amid looser pandemic curbs. Also, buying levels grew the most in over three years, as the rate of accumulation in stocks of inputs accelerated to one of that fastest seen since the survey began in January 2016. Meantime, employment stabilized after a 25-month period of fall, while lead time for inputs lengthened, but the reading was the least severe for nearly 2-1/2 years. On inflation, both input price and output charge inflation remained elevated. Finally, confidence was at 4-month high, on weaker COVID-19 containment measures that underpinned forecasts of stronger demand conditions and rising output.
2022-05-02
Philippines Manufacturing PMI Highest in Over 3 Years
The S&P Global Philippines Manufacturing PMI rose to 53.2 in March 2022 from 52.8 in February, marking the highest reading since December 2018 amid easing pandemic restrictions earlier in the year. Output grew for the second straight month while new orders expanded the most since July 2019. Also, buying levels rose further, with concerns regarding future input price increases. Meantime, export sales fell after expanding for the first time in seven months in February, due to subdued demand conditions. Employment dropped again in March, as did with backlogs of work. Alongside the pandemic, geopolitical tensions added to the ongoing strain on the supply-side. On inflation, input costs rose the most on record and companies also hiked their selling prices at the fastest rate since the series began. Finally, sentiment remained strongly positive due to hopes of a positive election outcome.
2022-04-01