Philippines Manufacturing Sector Inches Into Expansion - S&P Global

(RTTNews) - The manufacturing sector in the Philippines moved up into expansion territory in October - barely - according to the latest survey from S&P Global, with a manufacturing PMI score of 50.1.

That's up from 49.9 and it moved above the boom-or-bust line of 50 that separates expansion from contraction.

The above 50.0 PMI reading masked slight falls in both output and new orders. Both trackers have now failed to record any growth for a second consecutive month, a trend not seen in over four years. The recent decline in output was closely associated with falling new orders, which panelists linked to adverse weather conditions and the end-of-life status for certain products.

Nevertheless, the rate of contraction in production slowed on the month and was only marginal. Meanwhile, new factory orders placed with manufacturing firms in the Philippines fell at a stronger rate in October.