The IHS Markit Philippines Manufacturing tumbled to the lowest on record of 31.6 in April 2020 from 39.7 in a month earlier, as the extended lockdown of Luzon island to prevent the spread of COVID-19 had a strong impact on the sector. Output, new orders and export sales declined at record paces. At the same time, job shedding continued but at a softer pace, while firms reduced input purchases at the quickest rate in the series history. Meantime, suppliers meanwhile struggled to complete deliveries, leading to a marked increase in lead times overall. Prices data showed input costs dropped for the second consecutive month, amid a sharp drop in oil prices. Meanwhile, output charges declined for the second month in a row, albeit with the rate of decrease softer than in March. Finally, sentiment remained weaker than the series trend but firms were more upbeat of a lifting of lockdown measures in the near term.

Manufacturing Pmi in Philippines averaged 52.51 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 May of 2020. source: Markit Economics

Manufacturing Pmi in Philippines is expected to be 48.50 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 52.00 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.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Philippines Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
31.60 39.70 57.50 31.60 2016 - 2020 points Monthly


News Stream
Philippines Manufacturing Shrinks at Record Pace
The IHS Markit Philippines Manufacturing tumbled to the lowest on record of 31.6 in April 2020 from 39.7 in a month earlier, as the extended lockdown of Luzon island to prevent the spread of COVID-19 had a strong impact on the sector. Output, new orders and export sales declined at record paces. At the same time, job shedding continued but at a softer pace, while firms reduced input purchases at the quickest rate in the series history. Meantime, suppliers meanwhile struggled to complete deliveries, leading to a marked increase in lead times overall. Prices data showed input costs dropped for the second consecutive month, amid a sharp drop in oil prices. Meanwhile, output charges declined for the second month in a row, albeit with the rate of decrease softer than in March. Finally, sentiment remained weaker than the series trend but firms were more upbeat of a lifting of lockdown measures in the near term.
2020-05-04
Philippines Factory Activity Shrinks at Record Pace
The IHS Markit Philippines Manufacturing tumbled to the lowest on record of 39.7 in March 2020 from 52.3 in a month earlier, as the lockdown of Luzon island to prevent the spread of COVID-19 had a strong impact on the sector. Factory shutdowns led to a sharp drop in production and new orders, with employment also declining at the quickest pace in the series history. Also, firms registered large cuts to both purchases and inventories. Supplier delivery times increased for the eighth successive month and at a record pace, amid border controls and local travel restrictions. On the price front, input cost dropped notably, with a slump in oil prices mentioning as a contributing factor. As a result, businesses lowered selling prices steeply amid efforts to restore sales. Lastly, confidence weakened, with the outlook falling to its least optimistic in the series history.
2020-04-01
Philippines Manufacturing PMI Rises to 13-Month High
The IHS Markit Philippines Manufacturing edged up to 52.3 in February 2020, the highest since January 2019, from 52.1 in a month earlier. Output growth sustained, with the rate of expansion being little-changed from January's three month-high. Also, new orders expanded the most since last October, export sales picked up and was the strongest since July 2018, and employment rebounded and was above the long-run average. Meantime, shipment delays from China due to the COVID-19 outbreak hindered stockpiling of finished goods and inputs, and also led to a slower decline in outstanding work. Meantime, purchasing activity and input stocks both increased at slower rates, while input delivery times lengthened to the greatest extent since December 2017. Prices data showed that input cost inflation accelerated, in contrast with h a slower rise in selling charges.
2020-03-02
Philippines Factory Activity Growth at 3-Month High
The IHS Markit Philippines Manufacturing went up to 52.1 in January 2020 from 51.7 in the previous month. The reading pointed to the strongest expansion since October, as output grew at a faster pace, supported by a quicker rise in new orders amid stronger demand from both domestic and foreign customers and the beginning of new contracts. Also, export sales increased for the third time in four months, suggesting an improvement in the trade climate, while buying levels grew the most since last August. Meantime, employment remained subdued, as the job numbers fell for the first time in seven month. On the price front, input costs rose faster, and output price inflation went up to a seven-month high. Finally, sentiment improved, with the degree of optimism reaching its second-strongest in eight months boosted by new projects and a government's project that is expected to reduce traffic issues and improve supply chains.
2020-02-03

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.