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The Philippine manufacturing sector recorded a downtrend in November 2025 with more industry divisions posting declines in both their value and volume of production indices
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The value of production index and volume of production index dropped by 1.4% and 1.5%, respectively
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The value of net sales index and volume of net sales index, on the other hand, registered faster increases in November at 0.71% and 0.6%, respectively
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The average capacity utilization rate for the manufacturing section in November 2025 was reported at 77.4%
The Philippine manufacturing sector recorded a downtrend in November 2025 with more industry divisions posting declines in both their value and volume of production indices, according to the Philippine Statistics Authority’s latest Monthly Integrated Survey of Selected Industries (MISSI).
After three consecutive months of increases, the value of production index (VaPI) and volume of production index (VoPI) dropped by 1.4% and 1.5%, respectively, in November 2025.
The slower annual increase in the manufacture of food products, and the decreases in the manufacture of coke and refined petroleum products, and manufacture of beverages contributed to the downtrend in both VaPI and VoPI in November.
Ten other industry divisions also exhibited annual declines in their VaPI and VoPI in November, while nine others posted increments.
READ: PH manufacturing maintains faster growth in Oct 2025
According to S&P Global’s purchasing managers’ index survey data, manufacturing business conditions in the Philippines turned down sharply in November 2025 as output and new orders contracted due to weak customer demand, while exports, purchasing, and employment also declined.
The value of net sales index (VaNSI) and volume of net sales index (VoNSI), on the other hand, registered faster increases in November at 0.71% and 0.6%, respectively.
The uptrend in VaNSI and VonSI was mainly attributed to the slower decrease in the manufacture of basic metals, faster increase in the manufacture of electrical equipment, and slower decline in the manufacture of chemicals and chemical products.
Based on MISSI’s responding establishments, the average capacity utilization rate for the manufacturing section in November 2025 was reported at 77.4%, a slight drop from the 77.6% in October 2025 but higher than the 76.4% observed in November 2024.
All industry divisions reported capacity utilization rates of more than 60% during the month.
The top three industry divisions in terms of reported capacity utilization rate were manufacture of coke and refined petroleum products at 83.9%, other manufacturing and repair and installation of machinery and equipment at 82.9%, and manufacture of computer, electronic and optical products at 81.3%.
