Philippine manufacturing contracted in April on Middle East war

MANILA, Philippines – Philippine manufacturing activity deteriorated further in April, slipping back into contraction territory for the first time in five months as the Middle East war continued to disrupt trade flows and stall production. The latest S&P Global survey of around 400 companies showed the Philippines’ Purchasing Managers’ Index (PMI) fell to 48.3 from 51.3 in March, dropping below the 50-point threshold that separates growth from contraction. READ: ph-manufacturers-call-for-ayuda-amid-war-linked-crisis “Pulling down the headline figure was a fresh and sharp decline in new orders,” S&P said. “The demand picture for Filipino goods also worsened internationally, as new export orders fell […]... Keep on reading: Philippine manufacturing contracted in April on Middle East war

Go to News Site