Philippines Industrial Production

Manufacturing production in the Philippines rose by 4.5% year-on-year in May 2025, following a 4.3% increase in April. It marked the largest rise in industrial activity since July 2024, mainly driven by higher production in food (16.4% vs 11.9% in April), transport equipment (12.6% vs 8.0%), and electrical equipment (9.7% vs 1.0%). Additionally, output recovered in the manufacture of wood, bamboo, cane, rattan articles and related products (24.6% vs -1.0%), furniture (13.8% vs -0.1%), and fabricated metals, except machinery and equipment (1.9% vs -2.7%). Meanwhile, production declined for basic metals (-0.2% vs 12.9%), other non-metallic mineral products (-1.5% vs 5.7%), and machinery and equipment, except electrical (-6.1% vs 3.5%). On a seasonally adjusted monthly basis, manufacturing output fell by 2.1%, reversing a 12.7% gain in the previous period.