Factory activity growth slows in Aug.

PHILIPPINE manufacturing activity expanded in August but at its slowest pace in two months amid a muted rise in output and new orders as the higher US tariffs took effect, S&P Global said on Monday.

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The S&P Global Philippines Manufacturing Purchasing Managers' Index (PMI) stood at 50.8 in August, easing from 50.9 in July.

This was the lowest PMI reading since the 50.7 reading in June.

A PMI reading above 50 denotes better operating conditions than in the preceding month, while a reading below 50 shows a deterioration.

"The Philippines manufacturing sector once again indicated a subdued performance, with growth rates for output and new orders remaining below their historical averages," Maryam Baluch, economist at S&P Global Market Intelligence, said.

Available S&P Global data on select Association of Southeast Asian Nations members showed the Philippines had the third-highest PMI reading, behind Thailand (52.7) and Indonesia (51.5).

In the report, S&P Global noted "modest" growth in both output and new orders in August, supported by new customer acquisitions and improved demand.

Manufacturing output went up for a third straight month in August, "with the pace of increase reaching its fastest rate in four months," it said.