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.

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Philippines Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
46.40 50.40 57.50 31.60 2016 - 2021 points Monthly


News Stream
Philippines Manufacturing Shrinks for 1st Time in 3 Months
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.
2021-09-01
Philippines Factory Growth Slows
The IHS Markit Philippines Manufacturing PMI declined to 50.4 in July 2020 from 50.8 in June, amid toughest coronavirus curbs, with falls in output and new orders persisting. Meantime, the rate of job shedding eased to the softest since March, while firms continued to add to their pre-and post-production inventory holdings in anticipation of greater demand. At the same time, buying activity increased marginally, with growth now seen in two consecutive months. Turning to prices, the rate of input price inflation was robust at the start of Q3. Raw material shortages and the introduction of value-added tax to some goods exerted upward pressures on costs. Consequently, firms continued to raise their selling prices. Looking ahead, sentiment regarding output expectations over the next 12 months improved to a four-month high, due to Vaccination efforts.
2021-08-02
Philippines Manufacturing Sector Rebounds
The IHS Markit Philippines Manufacturing PMI rose to 50.8 in June 2021 from 49.9 in May, pointing to the first growth in the sector since March, amid an acceleration in the COVID-19 vaccination drive. New export orders rose for the second straight month, with a rate of growth stronger than the historical average; while input buying returned to expansion, ending a two-month period of decline. At the same time, output, new orders, and employment all fell at softer paces. Manufacturers were once again faced with a more severe lengthening of delivery times from suppliers. As for prices, input cost inflation eased for the second month running, amid higher transportation and raw material costs; while output price inflation quickened to an over 2-1/2-year high. Lastly, confidence remained optimistic, hitting a three-month high with hopes of greater demand fuelling stronger expectations.
2021-07-01
Philippines Manufacturing Sector Stabilizes
The IHS Markit Philippines Manufacturing PMI was at 49.9 in May 2021, up from 49.0 in April, pointing to a swift movement towards stabilization with some businesses already resuming their operations. Output fell at a softer pace while only a marginal contraction in new orders was recorded. Staffing levels fell again, amid cost-saving pressures. Still, some firms were able to meet new orders as measures to curb the spread of COVID-19 were downgraded in some regions, allowing factories to reduce backlogs of work further. Supply chain pressures remained evident, however, with delivery times lengthening markedly. On the price front, input cost inflation was robust, but the rate of increase eased slightly from that seen in April. Meantime, firms partly passed on higher raw material costs to clients, with selling prices rising the most since November 2018. Lastly, confidence remained upbeat but the degree of sentiment was below the long-run average.
2021-06-01

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.