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Financial News: Philippines Manufacturing PMI Sinks To 31.6 - IHS

Philippines Manufacturing PMI Sinks To 31.6 - IHS Marketing

05/03/2020 - 21:20:00 (RTTNews)

(RTTNews) - The manufacturing sector in the Philippines continued to contract in April, and at a faster rate because of the Covid-19 pandemic, the latest survey from IHS Marketing revealed on Monday with a manufacturing PMI score of 31.6.

That's down from 39.7 in March and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output, new orders and exports all fell at the quickest rates in survey history.

Job losses extended into April, although the rate of decrease softened somewhat. Delivery times lengthened markedly since March.

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