FX.co ★ Philippines Manufacturing PMI at 3-Month High

The S&P Global Philippines Manufacturing PMI climbed to 50.9 in July 2025 from 50.7 in June, signaling the most significant enhancement in operating conditions since April. The rise in new orders indicates strengthened demand both domestically and internationally, with export orders growing for the first time in five months. Production experienced a consecutive monthly increase, bolstered by incoming orders and preemptive inventory accumulation due to anticipated tariff changes in the US. Nonetheless, purchasing and employment growth slowed, reflecting a cautious stance among manufacturers. Inflationary pressures were historically low, as input costs rose at the slowest pace in over a year, partly due to effective bulk purchasing strategies. Increases in output prices were minimal. Business confidence reached a peak for the past four months, fueled by expectations of stronger demand and planned marketing initiatives, although optimism remained below the long-term average.