The IHS Markit Philippines Manufacturing jumped to 50.1 in September 2020 from 47.3 in August, as more parts of the economy reopened following the easing of coronavirus restrictions, with new orders growing for the first time since February. Also, export sales expanded, ending a six-month sequence, as foreign clients bought in advance to prepare for firmer market conditions in the months ahead. Meantime, output shrank the least in three months, while employment fell for the seven-month running. Backlogs of work, meantime, fell further, amid evidence of persistent spare capacity. On the price front, cost burdens rose solidly due to higher transportation costs, material shortages, and reports of supplier surcharges related to the pandemic. Meantime, factory gate charges rose marginally amid difficulty passing on higher costs to clients due to tough market competition. Finally, sentiment was at its highest since February.
Manufacturing Pmi in Philippines averaged 52.04 points from 2016 until 2020, 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 October of 2020. source: Markit Economics
Manufacturing Pmi in Philippines is expected to be 49.00 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 53.40 points in 2021 and 53.00 points in 2022, according to our econometric models.