PHILIPPINE MANUFACTURING ACTIVITY continued to expand in September, hitting its highest in two years and outperforming its peers in Southeast Asia, S&P Global said in a report.
The Philippine Manufacturing Purchasing Managers’ Index (PMI) rose to 53.7 in September, from 51.2 in August. It was the fastest reading since the 53.8 clip in June 2022.
“The Filipino manufacturing sector showed a significant improvement at the end of the third quarter, as indicated by the latest PMI data,” Maryam Baluch, economist at S&P Global Market Intelligence, said in a report.
An above 50 PMI reading shows better operating conditions than in the last month.
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