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Philippines Industrial Output Eases in May

TeaTimeTrader
Manufacturing production in the Philippines increased by 13.5% year-on-year in May 2026, easing from a more than four-year high and revised gain of 14.6% in the previous month. The moderation was largely driven by slower output growth in the manufacture of transport equipment (0.9% vs 12.6% in April), which accounted for 42% of total industrial production. Additional downward pressure came from softer growth in the manufacture of food products (3.1% vs 6.1%) and a sharp contraction in the manufacture of chemicals and chemical products (-11.5% vs 1.0%). In contrast, several categories saw faster expansion, including the manufacture of coke and refined petroleum products (78.5% vs 60.4%), computer, electronic and optical products (22.6% vs 19.8%), and leather and related products, including footwear (90.9% vs 75.7%). For the January–May period, industrial production rose 8.2% compared with the corresponding period a year earlier.
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