Philippines’ PMI November 2024

According to the latest data by S&P Global Market Intelligence, Philippines’ Purchasing Manager’s Index (PMI) reached 53.8 in November, above the 50-point threshold that separates growth from contraction.

Production levels in the Philippines expanded at a faster pace as demand strengthened, with companies proactively preparing for anticipated sales growth in the coming months. Employment, input purchasing, and post-production inventories all increased, with inventories rising for the first time in four months, reflecting readiness to meet higher production needs.

In its latest outlook, the International Monetary Fund estimated Philippines GDP growth rate to be 5.8 per cent in 2024 and 6.1 per cent in 2025.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.