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Factory activity slows in October
The Philippine Star
|November 05, 2024
The country's manufacturing activity expanded at a slower pace in October from the previous month due in part to disruptions from Severe Tropical Storm Kristine.
In a statement, S&P Global said the Philippines' purchasing managers' index (PMI) for manufacturing fell to 52.9 in October from September's 27-month high of 53.7.
Despite easing from the previous month, the October PMI is the second-highest reading since January last year.
PMI, an indicator of manufacturing performance, is generated from a survey of around 400 manufacturers and covers the following: new orders, output, employment, suppliers' delivery times and stocks of purchases.
This story is from the November 05, 2024 edition of The Philippine Star.
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