A WORKER is seen inside a manufacturing facility in Sto. Tomas, Batangas, March 1, 2023. — PHILIPPINE STAR/KJ ROSALES
By Justine Irish D. Tabile, Senior Reporter
PHILIPPINE FACTORY activity bounced back in May as stronger domestic demand boosted output and new orders, although supply chain disruptions and rising costs linked to the Middle East conflict continued to weigh on manufacturers, S&P Global said on Monday.
S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) improved to 50.8 in May from 48.3 in April. However, S&P Global said the latest uptick “was only modest and historically subdued.”
A PMI reading above 50 denotes better operating conditions than in the preceding month, while a reading below 50 shows deterioration.
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