A clothes factory in Lapu-Lapu City. —PHOTO COURTESY OF THE MEPZ WORKERS ALLIANCE
MANILA, Philippines — Factory activity in the Philippines accelerated to a five-month high in July as demand strengthened at its fastest pace since the outbreak of the Middle East conflict, suggesting manufacturers are regaining momentum after a sluggish second quarter.
The country’s Purchasing Managers’ Index (PMI), a closely watched gauge of manufacturing activity, rose to 51.8 in July from 50.9 in June, according to a survey of about 400 companies conducted by S&P Global.
READ: Philippine factory activity edges up in June
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