FX.co ★ Philippines Industrial Output Recovers to 3-Month High

In August 2025, manufacturing production in the Philippines saw an annual increase of 2.0%, rebounding from a revised 1.9% decline in July. This marked the most substantial growth in industrial activity since May. The rise was primarily driven by a significant increase in food product production, which surged by 21% compared to 12% in July, contributing to 46.3% of the overall upward trend, with vegetable and animal oils and fats showing particular strength. There was also a notable increase in the manufacture of tobacco products, up by 19.7% from 14.4%. Additionally, production rebounded in the manufacture of machinery and equipment, excluding electrical, which rose by 5.8% compared to a 4.2% decline previously, and also in other manufacturing sectors, including the repair and installation of machinery and equipment, which grew by 16.8% after a 0.5% decrease. However, on a seasonally adjusted monthly basis, industrial activity experienced a decline of 3.1%, reversing the 3.0% increase observed in the month prior.