MANILA, Philippines — Philippine factory activity expanded to a near-decade high in August as easing inflationary pressures boosted new orders and renewed business confidence.
S&P Global said Tuesday the country’s Manufacturing Purchasing Managers’ Index (PMI) climbed to 54.9 in August from 51.8 in July, marking its highest growth since December 2016.
READ: Factory activity rose to 5-month high in July
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“The Filipino manufacturing sector continued to build momentum in August, moving on from the flat performance seen in the previous quarter, when activity was affected by the conflict in the Middle East,” Maryum Baluch, S&P Global Market Intelligence economist, said.FEATURED STORIES
