Philippines Manufacturing PMI Ebbs In June - S&P Global
(RTTNews) - The manufacturing sector in the Philippines continued to expand in June, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 50.9.
That's down from 52.2 in May although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Output levels were raised further in June. However, the pace of growth lost momentum, indicating only a fractional rise in manufacturing output. Moreover, the pace of the upturn was the weakest since the current run of expansion began in September 2022. Though modest overall, new orders received by goods producers across the Philippines also rose at a softer pace in June.
That said, firms highlighted that additional demand and new client wins drove the expansion. Similarly, while helping to sustain growth in total factory orders, foreign demand for Filipino manufacturers goods also expanded in June.
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