By Luisa Maria Jacinta C. Jocson, Reporter
MANUFACTURING ACTIVITY in the Philippines eased for a second straight month in January as new orders and output rose at a slower pace, S&P Global said on Thursday.
The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) slipped to 50.9 in January from 51.5 in December. A PMI reading above 50 denotes better operating conditions than in the preceding month, while a reading below 50 shows a deterioration.
“The turn of the year revealed a slight weakness in demand conditions, as new orders and output growth eased,” Maryam Baluch, economist at S&P Global Market Intelligence, said in a statement.