FX.co ★ Philippines Industrial Production Slumps by 7.4% Year-over-Year in May 2024

In the Philippines, the latest data on industrial production shows a concerning decline. The year-over-year comparison indicates a significant slump, with the current indicator standing at -1.7%, down from the previous indicator of 5.7%. This drop of 7.4% reflects a downturn in industrial output and economic activity in the country. The data, updated on 08 May 2024, highlights the challenges faced by the Philippines' industrial sector, signaling potential broader impacts on the economy. As businesses navigate through these fluctuations, attention will be drawn to implementing measures to stimulate industrial growth and enhance economic resilience in the face of uncertainties.