The IHS Markit Philippines Manufacturing increased to 52.5 in January 2021 from 49.2 in December, pointing to a turnaround in operating conditions after three straight months of contraction. This was the highest PMI reading since December 2018, amid a recovery from the downturn onset by the COVID-19 pandemic. Output rose solidly, and new orders grew the most since July 2019 amid improving customer demand. Also, buying activity went up for the first time in eleven months, with both pre-production inventories and stocks of finished goods being accumulated. Meanwhile, employment fell at the softest pace in the current eleven-month sequence of fall while the level of outstanding work dropped more. Also, export sales shrank as key export destinations applied strict pandemic restrictions. Regarding inflation, input prices went up at the fastest rate since November 2018, while selling prices rose at the steepest rate in nine months. Lastly, sentiment eased but remained positive. source: Markit Economics
Manufacturing PMI in Philippines averaged 51.91 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 February of 2021.
Manufacturing PMI in Philippines is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Philippines to stand at 53.00 in 12 months time. In the long-term, the Philippines Manufacturing PMI is projected to trend around 53.00 points in 2022, according to our econometric models.