PH manufacturing rebounds

Philippine factory growth showed recovery in June from May's notable loss as production improved, and new orders increased at a faster rate.

- By DERCO ROSAL

According to the latest data from debt watcher S&P Global, there was a "slight revival in the Filipino manufacturing sector" last month following a notable loss in growth momentum in May.

It noted, however, that while the "upswing in new orders was sufficiently robust to push production levels back into expansion territory," it was only at a minimal rate.

Data from S&P Global revealed in June that the manufacturing sectors posted stronger demand and higher production needs, leading firms to step up their purchasing activity.

Based on the report, the Philippines' purchasing managers' index (PMI)—an overall single-figure indicator of how the manufacturing sector is performing—climbed to 50.7 from 50.1 previously. The debt watcher said this reflects "a stronger, albeit still modest improvement in the health of the Philippines manufacturing sector."

"Improvements across the goods-producing economy were signaled for a third month running," it added.