The IHS Markit Philippines Manufacturing edged up to 51.7 in December 2019 from a five-month low of 51.4 in November, signalling modest improvement in the sector that was in line with the average seen for the year. The improvement was partly driven by a solid rise in new orders, with the rate of growth strengthening slightly from November. Alongside a broad-based increase in sales, firms noted a slight upturn in new work from foreign clients, marking only the second monthly expansion in seven months. At the same time though, output rose marginally, with the pace of growth weakening to a 27-month low. Input buying rose, although the rate of growth was the softest in ten months. Meantime, employment rose marginally, while backlogs of work fell further. On the price front, input cost inflation was at its lowest since July, linked by panellists to a lack of supply. Average charges, meanwhile, raised, albeit only modestly. Looking ahead, sentiment was subdued.
Manufacturing Pmi in Philippines averaged 53.23 points from 2016 until 2019, reaching an all time high of 57.50 points in September of 2016 and a record low of 50.60 points in August of 2017. This page provides - Philippines Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Markit Economics
Manufacturing Pmi in Philippines is expected to be 52.00 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 54.40 points in 2020, according to our econometric models.