07.04.202601:25:45UTC+00Philippines Industrial Output Growth at 19-Month High

Manufacturing output in the Philippines expanded by 4.6% year-on-year in February 2026, quickening from a downwardly revised 2.6% increase in January. This was the fastest pace of growth since July 2024, largely underpinned by a strong rebound in basic metals, where production surged 21.8% after a 4% contraction in the previous month. Basic metals alone accounted for 54.2% of the overall annual increase in manufacturing.

Solid gains were also recorded in several other segments. Production of furniture remained robust, accelerating to 29% from 19.9%. Output of computer, electronic and optical products continued to grow at a high rate, rising 20% after 22.6% previously. The manufacture of leather and related products, including footwear, also strengthened, with output increasing 17.2% compared with 11.4% in January.

By contrast, growth slowed markedly in some subsectors. Output of transport equipment eased to a 0.7% increase from 1.5%, while growth in rubber and plastic products decelerated to 2.6% from 9.8%. Production of basic pharmaceutical products and pharmaceutical preparations fell sharply, plunging 39.8% year-on-year after a 12.3% decline in the prior month.

On a seasonally adjusted month-on-month basis, overall industrial production slipped 0.3% in February, reversing part of the 2.7% gain recorded in January.