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Financial News: Philippines Manufacturing Sector Strengthens In November -

Philippines Manufacturing Sector Strengthens In November - Markit

11/30/2021 - 20:25:00 (RTTNews)

(RTTNews) - The manufacturing sector in the Philippines continued to expand in November, and at a faster pace, the latest survey from Markit Economics showed on Wednesday with a seasonally adjusted manufacturing PMI score of 51.7.

That's up from 51.0 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Although only modest, the latest uptick was the strongest in eight months, and in line with the long-run series average. Central to the uptick was an expansion in new orders received by Filipino manufacturers, with new sales rising for the first time since March.

Higher client numbers, increased footfall, and a general improvement in customer demand were the key drivers of growth, according to panelists. The rate of growth was subdued in the context of the series history, however.

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