Philippines Manufacturing Sector Ebbs In February - S&P Global
(RTTNews) - The manufacturing sector in the Philippines continued to expand in February, albeit at a slightly slower rate, the latest survey from S&P Global revealed on Wednesday with a PMI score of 52.7.
That's down from 53.5 in January, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Overall growth in the manufacturing sector was supported by strong, albeit slightly slower, expansions in output and new orders. As per anecdotal evidence, greater demand from customers and a growing clientele helped drive the latest upturns.
Greater production requirements meant that firms also raised their purchasing activity, with input buying increasing for the sixth straight month. Although sharper than the series average, February data signaled a softer rise in acquisitions of raw materials and semi-finished goods.
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