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.

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Philippines Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.90 49.00 57.50 31.60 2016 - 2021 points Monthly


News Stream
Philippines Manufacturing Sector Stabilizes
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.
2021-06-01
Philippines Factory Activity Contracts for 1st Time in 4 Months
The IHS Markit Philippines Manufacturing PMI fell to 49.0 in April 2021 from 52.2 in March, pointing to the first contraction since December 2020, amid a resurgence in local COVID-19 cases that prompted tighter lockdown curbs and factory closures. Output fell steeply, with the rate of drop among the quickest in the survey to date. Domestic demand also shrank at the sharpest rate among the series; and employment fell for the 14th month, with the latest decline the quickest in four months. Buying levels dropped further, falling the fourth quickest in the series history. Higher sales to European markets which have begun to gradually reopen reportedly led to a softer deterioration in exports, however. Input price inflation accelerated for the sixth month running with the latest uptick the strongest in over 2-1/2 years, led to a faster uptick in output charges. Sentiment was at eight-month low but remained positive.
2021-05-03
Philippines Manufacturing Growth Eases in March
The IHS Markit Philippines Manufacturing PMI fell to a three-month low of 52.2 in March 2021 from 52.5 a month earlier. The latest reading indicated a modest improvement in the health of the sector, as output growth was the joint-fastest since June 2019, while new orders increased marginally. Meanwhile, employment declined for the 13th consecutive month in a row, while firms were still able to clear their backlogs of work, with the rate of depletion in outstanding business sharp overall. On the price front, input costs rose at a sharp and accelerated pace, while output price inflation was the steepest since November 2018. Finally, the outlook for production remained in positive territory, on hopes of stronger economic conditions.
2021-04-05
Philippines Manufacturing PMI Unchanged
The IHS Markit Philippines Manufacturing PMI remained at 52.5 in February 2021, signaling a solid rate of expansion in factory activity, amid easing COVID-19 restrictions, with both output and new orders rising modestly. Meantime, firms raised their stocks of purchases, with the rate of growth the sharpest in over four years. Stocks of finished goods rose only marginally, however. Demand from overseas markets reportedly dwindled, with export orders falling solidly. Also, employment fell for the twelfth month running, but the rate of job shedding eased to the softest in the sequence. Suppliers' delivery time lengthened and was among the sharpest in the series history, due to persistent transportation restrictions. As for prices, input price inflation rose at the sharpest rate since October 2018, amid raw material shortages. Firms looked to pass on higher costs by raising their selling charges. Looking ahead, sentiment improved though still far below the long-run series average.
2021-03-01

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.