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The Philippine manufacturing sector performed at a three-month low in June amid slower growth in new orders and weaker demand trends, results of the latest survey conducted by S&P Global released on Monday showed.The headline S&P Global Philippines Manufacturing PMI stood at 51.3 in June, down from the 51.9 in May. A reading above the 50.0 threshold indicates an expansion, while levels below indicate a contraction.
This comes as firms trimmed their workforce numbers, and there were some reports of non-replacement of voluntary leavers.Firms picked up their purchasing activity during the period to hit the fastest growth since July 2023, with rising production volumes and hopes of increased activity.Pre-production inventories were accumulated for the fourth straight month, with growth slightly decelerating due to traffic and delays at customs.
Philippine Manufacturing Output Business And Industry
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