PHILIPPINE manufacturing activity continued to expand in August, hitting a near 10-year high, amid increased output and new export orders, S&P Global said.
The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 54.9 in August from 51.8 in July, marking the fourth straight month of expansion.
This was the strongest improvement since December 2016’s 55.7.
A PMI reading below 50 shows a deterioration in operating conditions from the previous month, while a reading above 50 signals an improvement.
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