The manufacturing sector in the Philippines continued to expand in April, and at a faster rate, the latest survey from S&P Global showed on Monday with a manufacturing PMI score of 54.3.
That’s up from 53.2 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The latest reading was the highest since November 2017 and pointed to a solid improvement in overall operating conditions.
Output and new orders increased for the third month running in April, with the respective rates of growth both accelerating from March to the quickest since November 2018. Anecdotal evidence indicated that looser pandemic restrictions had supported the latest upturns in customer demand and production schedules.