FX.co ★ Philippines Manufacturing Output Growth at 10-Month High

Manufacturing production in the Philippines saw a 4.5% year-on-year increase in May 2025, following a 4.3% rise in April. This represents the most significant uptick in industrial activity since July 2024. The surge was primarily fueled by increased output in the food sector, which soared by 16.4% compared to 11.9% in April, along with marked growth in the transport equipment industry at 12.6% from 8.0%, and the electrical equipment sector rising to 9.7% from 1.0%. Furthermore, production rebounded in the manufacturing of wood, bamboo, cane, and rattan articles and related products, which jumped by 24.6% from a previous decline of 1.0%. The furniture sector and fabricated metals, excluding machinery and equipment, also registered positive growth, with increases of 13.8% from -0.1% and 1.9% from -2.7% respectively. Conversely, declines were recorded in basic metals, which dipped by 0.2% following a 12.9% rise, other non-metallic mineral products down 1.5% after a 5.7% gain, and machinery and equipment—excluding electrical components—fell by 6.1% following a previous increase of 3.5%. On a seasonally adjusted monthly basis, the output in the manufacturing sector decreased by 2.1%, a reversal from the 12.7% gain observed in the prior period.