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Economy

Philippines manufacturing PMI up to 53.8 in March

TOKYO -- The Nikkei Philippines Manufacturing Purchasing Managers' Index, or PMI, rose marginally to 53.8 in March from 53.6 in February.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

"The March survey points to a further strengthening in the rate of expansion of the Philippines' manufacturing sector, which bodes well for economic performance in the first quarter," said Bernard Aw at IHS Markit, which compiles the survey.

"Growth is being driven mostly by robust domestic demand, stemming from buoyant consumers and public infrastructure spending in particular," he said.

(Nikkei)

For more information, visit:

http://www.markiteconomics.com/Survey/Page.mvc/PressReleases

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