Manufacturing production in the Philippines grew by 10.6% yoy in July 2022, after a downwardly revised 8.3% gain in June. This was the 15th straight month of expansion in manufacturing output and the steepest pace since March, amid further improvement in the COVID-19 situation, with output growth mainly accelerating for food products (20.4% vs 18.6% in June), transport equipment (19.4% vs 12.4%), coke and refined petroleum (16.9% vs 5%), beverages (15.4% vs 0.9%), paper products (22.7% vs 20.6%), and chemicals (7.1% vs 6.7%). Also, there was a sharp rebound in both printing and reproduction of recorded media and leather products (18.7% vs -1.1%). Meantime, output growth eased for computer, electronic (10.6% vs 11.6%), other non-metallic mineral products (7.4% vs 16%), rubber & plastics (5.6% vs 7.5%), and textiles (23.4% vs 30.1%), amid further falls in production of electrical equipment (-51.2% vs -44.9%), basic metals (-9.4% vs -9.2%), and pharmaceutical products (-17.6% vs -9.3%).
source: Philippine Statistics Authority
Industrial Production in Philippines averaged 11.79 percent from 1986 until 2022, reaching an all time high of 531.30 percent in August of 2021 and a record low of -83.10 percent in August of 2020. This page provides - Philippines Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Manufacturing Production - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Industrial Production in Philippines is expected to be -15.00 percent by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. In the long-term, the Philippines Manufacturing Production is projected to trend around 6.00 percent in 2023, according to our econometric models.