The contraction in the country’s manufacturing activities last month was only a “marginal drop” and a “pause” in its recovery from the coronavirus pandemic, the Department of Trade and Industry (DTI) assured on Wednesday. IHS Markit had reported that despite broadly stabilizing in September, operating conditions across the factory sector worsened in October. “As such, this still affects consumer confidence, but the situation is getting better as we ease up [on] restrictions,” he added. But we have started the reopening of the economy and shall continue to do so gradually and safely,” he said. He said several investment policies had been liberalized to incentivize the implementation of coronavirus-proofing activities and the production of critical goods and services.

Source: Manila Times November 04, 2020 16:30 UTC