The Philippine manufacturing sector rebounded in June, reversing a loss in growth momentum in May, the latest S&P Global Purchasing Managers' Index
The Philippine manufacturing sector rebounded in June, reversing a loss in growth momentum in May, the latest S&P Global Purchasing Managers’ Index data showed Tuesday.
Improved demand and renewed growth in production requirements prompted firms to increase purchasing activity. The June data also marked a return to job creation, with payroll numbers rising for the first time in four months. The upswing in new orders was robust enough to push production levels back into expansion territory, albeit marginally. The rate of output growth lagged the increase in new business.
“That said, the overall PMI figure masked some pockets of strength, such as the revival in employment, which was the first in four months. Output was also raised, thereby reversing the fall in May,” said Baluch.
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