By Justine Irish D. Tabile, Senior Reporter
PHILIPPINE FACTORY activity in February expanded at its fastest pace in eight years amid an increase in production and new orders as well as a “surge in business confidence,” S&P Global said on Monday.
However, the US-Iran conflict may cause a spike in oil prices, which may pose a risk to the manufacturing sector in the coming months, S&P added.
S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 54.6 in February from 52.9 in January, the strongest improvement since November 2017 when PMI stood at 54.8.
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