PH factories’ PMI improve in Sept

The country’s manufacturing purchasing managers’ index in September 2022 improved to 52.9, the highest in three months, S&P Global reported Monday.The September survey also showed that increases in output and new orders, easing of price pressure, and manufacturers’ confidence for the next 12 months have supported the sector’s health despite the lower demand from foreign markets for Philippine-made goods.

S&P’s report also noted that manufacturing growth in September was primarily driven by domestic demand as orders from abroad continue to contract for seven consecutive months.“Adding to the good news, inflationary pressures, which have been uncomfortably high in the past couple of months, moderated in the latest survey period, hinting that inflation may have peaked,” Baluch said.

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