S&P Global: Philippines manufacturing sector expands in Nov. ’24

The Philippines’ manufacturing sector remained strong in November 2024, with the PMI rising to 53.8, marking the fifteenth consecutive month of expansion and the fastest growth since mid-2022.

Production levels increased, driven by strong demand and companies preparing for future sales growth. Employment, input buying, and post-production holdings also rose, with optimism for the year ahead reaching a 22-month high.

Recent typhoons causing delays in input deliveries have increased lead times. Delays are the most significant since October 2021. Inflationary pressures continue to rise, with input costs and output charges increasing at the fastest rates in 21 months.

Attribution: S&P Global report

Subediting: M. S. Salama