Philippine factory activity contracted in April, the first time since November, amid a sharp decline in new orders.
The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) slumped to 48.3 in April, a reversal from the 51.3 in March.
“The Filipino manufacturing sector started the second quarter of 2026 with a renewed worsening of operating conditions as the headline index fell below the neutral 50.0 reading for the first time in five months,” Maryam Baluch, economist at S&P Global Market Intelligence, said in a report.
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