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. source: Markit Economics
Manufacturing PMI in Philippines averaged 51.85 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 June of 2021.
Manufacturing PMI in Philippines is expected to be 53.00 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 55.00 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.