TOKYO -- The Philippines’ manufacturing sector logged a modest expansion in September, supported by solid demand at home, according to a survey.
The Nikkei Philippines Manufacturing Purchasing Managers’ Index, or PMI, rose from 51.9 in August to 52.0 in September, rising further above the 50-point line separating expansion from contraction.
Production grew thanks to higher sales and favorable weather conditions, while new orders also continued to rise. But export orders fell for the first time in seven months, with respondents pointing to dollar strength and weaker foreign demand.
The solid order book suggests that “domestic markets continued to support the sector’s expansion,” Bernard Aw, Principal Economist at IHS Markit, which compiles the survey.
(Nikkei)
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