MANILA, Philippines — The Philippines’ weak manufacturing sector is limiting wage growth and putting consumer spending at risk, Oxford Economics said on Wednesday.
In a note, the research firm said Philippine manufacturing has lagged the region, while recent wage gains have relied on one-off minimum wage hikes instead of productivity and employment growth.
READ: Philippine factory activity edges up in June
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A stronger manufacturing and export sector could lift household incomes through job creation, higher wages and bonuses, as well as dividends and stock-based compensation, Oxford Economics said.FEATURED STORIES
