PHILIPPINE FACTORY activity in January expanded at its fastest pace in nine months amid an increase in production and new orders, S&P Global said on Monday.
However, the latest improvement could be short-lived as business confidence remained weak due to concerns about external demand as the global economic environment remains fragile.
S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 52.9 in January from 50.2 in December, the strongest improvement in nine months or since April’s reading of 53.
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