The Philippine manufacturing sector continued to expand in December, marking a strong end to the year. The S&P Global Philippines Manufacturing PMI stood at 54.3, the highest rate since April 2022. This growth was driven by higher output and new orders, reaching the strongest levels in 32 months. The report also highlighted a moderation in inflationary pressures and a renewed increase in demand from international markets.
The Philippine manufacturing sector continued to expand in December to close the year with a rate last seen in April 2022 on the back of higher output and new orders, results of the latest survey conducted by S&P Global released on Thursday showed.The headline S&P Global Philippines Manufacturing PMI stood at 54.3 in December, higher than the 53.8 in November. This matches the same reading recorded in April 2022, and the joint-strongest since November 2017.A reading above the 50.
“Firms also expanded their purchasing activity to meet production requirements. December highlighted a moderation in inflationary pressures, marking a shift from the spike observed in November. In fact, cost burdens and output charges rose at historically muted rates,” Baluch said.
Manufacturing Philippines PMI Expansion Inflation
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