Manufacturing PMI down to nine-month low
Credit to Author: The Manila Times| Date: Thu, 02 May 2019 02:30:40 +0000
THE country’s manufacturing Purchasing Managers’ Index (PMI) slipped to a nine-month low in April, an IHS Markit/Nikkei survey said.
Survey results released on Thursday showed that the seasonally adjusted PMI fell to 50.9 in April from 51.5 in March.
The PMI is a composite index, which represents the weighted average of new orders, output, employment, suppliers’ delivery time and stocks. Readings above 50 signal an expansion while below that is a contraction.
“April PMI revealed an even more subdued picture for the Philippines. With first quarter results already reflecting weaker manufacturing growth than at the end of last year, the latest data did little to raise hopes for the second quarter,” said IHS Markit economist David Owen. ANNA LEAH E. GONZALES
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