MANILA, Philippines — Strengthened demand for Filipino manufactured goods propelled the solid growth of the domestic manufacturing sector in October, the latest reading of the Nikkei Philippines Manufacturing Purchasing Managers’ Index showed. The seasonally adjusted Nikkei Philippines Manufacturing PMI registered a sharp increase in October to 53.7 from September’s 50.8. Vietnam slipped to second position as its rate of growth slowed to the weakest since May. “After two months of marginal growth, there was a flurry of activity in the Philippines manufacturing sector at the start of the fourth quarter,” said Bernard Aw, Principal Economist at IHS Markit, which compiled the survey. “Demand for Filipino manufactured goods strengthened noticeably, with order book growth picking up to a five-month high.

Source: Philippine Star November 02, 2017 03:11 UTC