Philippines Manufacturing PMI Slows In May - S&P Global
(RTTNews) - The manufacturing sector in the Philippines continued to expand in May, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.9.
That's down from 52.2 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Growth in total sales was sustained in May, though the rate of Increase eased fractionally from April. Nonetheless, a further improvement in underlying demand trends and an expanding customer base helped stretch the current run of increase to nine consecutive months.
Demand from external markets strengthened in May, with new export orders rising for the fourth straight month and at a pace that was the most pronounced since December 2016. Growth in new sales from abroad was widely attributed to improved demand trends in key export markets and new client wins.
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