PH manufacturing sector improves in July
Credit to Author: ANNA LEAH E. GONZALES| Date: Thu, 01 Aug 2019 04:55:06 +0000
FILIPINO manufacturers saw an improvement in business
conditions in July, as sales significantly grew, an IHS Markit survey said.
Results of the survey released on Thursday showed that the seasonally adjusted manufacturing Purchasing Managers’ Index (PMI) increased to 52.1 in July from 51.3 in June.
IHS Markit said this signalled a “moderate improvement
in the health of the sector that was the strongest seen since the start of the year. ”
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.