Credit to Author: Anna Leah E. Gonzales| Date: Wed, 01 Jul 2020 03:21:45 +0000
THE Philippine manufacturing sector slightly recovered in June with the Purchasing Managers Index (PMI) rising to 49.7, slightly below the neutral 50.0 mark that separates expansion from contraction, an IHS Markit survey showed.
Survey results released on Wednesday showed that the PMI was siginificantly higher than the 40.1 recorded in May.
The PMI takes into account new orders, output, employment, suppliers’ delivery time, and stocks. Readings above 50 signal an expansion; below that, a contraction.
IHS Markit said the latest reading was “the highest since February, and signalled a further movement toward stabilization in the Filipino goods-producing sector.”