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MANILA, Philippines – Philippine manufacturing activity returned to growth in May as stronger domestic demand offset supply chain disruptions linked to the Middle East war, though overall gains remained modest.
On Monday, S&P Global said the Philippines Purchasing Managers’ Index (PMI) climbed to 50.8 in May from 48.3 in April.
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The latest figure meant that local factory activity has entered expansion territory again, settling above the 50-mark that separates growth from contraction.
