Philippines Manufacturing PMI Spikes In January - S&P Global

(RTTNews) - The manufacturing sector in the Philippines continued to expand in January, and at a faster pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 52.9.

That's up from 50.2 in December and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

A renewed and strong uptick in output and faster growth in new orders contributed positively to the increase in the headline figure. According to anecdotal evidence, strengthening underlying demand trends supported the latest uptick in new sales, which then fed through to a renewed rise in production levels.

Moreover, growth in overall new orders was aided by a fresh rise in new factory orders received from abroad. The rate of expansion was modest but marked the first month of expansion since last September.