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.

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Philippines Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.50 49.20 57.50 31.60 2016 - 2021 points Monthly


News Stream
Philippines Manufacturing PMI Highest in 25 Months
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.
2021-02-01
Philippines Factory Activity Shrinks for 3rd Month
The IHS Markit Philippines Manufacturing fell to 49.2 in December 2020 from 49.9 in the prior month. This was the third straight month of contraction in the manufacturing sector, amid ongoing lockdown restrictions and poor weather. Output contracted, with the rate of drop was among the fastest in the series history. Also, job shedding persisted at a strong rate which firms linked to restructuring efforts and voluntary resignations. Backlogs of work fell further, due to spare capacity due to weaker demand conditions. A combination of material shortages and social restrictions contributed to another monthly deterioration in vendor performance. On the cost front, input prices rose for the eighth straight month, while an increase in factory-gate charges that began in May continued, with the latest rise the joint-fastest in the sequence. Lastly, sentiment improved to its highest since February.
2021-01-04
Philippines Manufacturing Sector Stabilizes
The IHS Markit Philippines Manufacturing was up to 49.9 in November 2020 from 48.5 a month earlier, signaling a movement towards stability and was the highest reading since September. Output levels rose for the first time since June, while foreign orders expanded moderately. Meantime, new orders shrank fractionally, amid a solid rate of persistent job shedding. Further signs of unused capacity at factory plants were reflected in the fourth quickest contraction in backlogs during November. At the same time, delivery times lengthened in each month since August 2018, due to port congestions and traffic delays. On the cost front, input prices rose the most since August, amid higher raw material and transportation costs. Businesses, however, were able to partially pass higher costs onto consumers through a slight increase in selling prices. Going forward, confidence remained positive but moderated from that seen in October.
2020-12-01
Philippines Manufacturing Shrinks Again
The IHS Markit Philippines Manufacturing fell to 48.5 in October 2020 from 50.1 in the previous month, amid business closures and subdued demand due to ongoing COVID-19 outbreak. New orders and output fell again, though export sales went up for the second month running. Also, employment shrank for the eighth consecutive month, amid another reduction in backlogs of work, highlighting evidence that spare capacity persisted across the manufacturing sector. At the same time, firms reduced their stores of inputs. Delivery times also lengthened, extending the current period of deterioration to fifteen months. On the price front, input cost inflation hit the lowest since May, while output charges rose fractionally. Finally, sentiment remained positive, as has been the case since the start of the survey in January 2016, amid plans of expansion and new product launches.
2020-11-03

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.