The manufacturing sector in the Philippines continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 52.6.
That's down from 52.9 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Improved demand conditions meant that both production levels and new orders rose for the second month running. That said, while the former noted a slower rise on the month, incoming new business grew at a faster pace.
While overall factory orders increased, volumes of new work from abroad contracted at the sharpest pace since the recent sequence of decline began in March. Growth in new sales resulted in businesses expanding workforce numbers and input buying activity to increase capacity to support production.
