The growth of the Philippine manufacturing sector slowed down last month due to weaker expansion in output and new orders, S&P Global reported on Monday, July 3. | ManilaBulletin READ:
The Philippines’ S&P Global manufacturing purchasing managers' Index posted a reading of 50.9 in June, a decline from 52.2 in the previous month. This marks the slowest expansion in the sector in the past 10 months or since July 2022.
Last June 22, the Bangko Sentral ng Pilipinas maintained the current policy rates, citing risks of inflation leaning towards the upside. On the other hand, new orders demonstrated modest gains, even with the added demand from new and foreign clients.
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