THE Philippine manufacturing sector continued to gain momentum in May, an IHS Markit/Nikkei survey found, as improving demand conditions pushed the Purchasing Managers’ Index (PMI) to its highest in five months. The PMI is a measure of the economic health of the manufacturing sector. Post-production inventories were also up but suppliers faced difficulties coping with higher demand as reflected in a further deterioration in vendor performance during May, according to Nikkei. Firms raised selling prices again with the rate of increase remaining solid, Nikkei said, reflecting efforts to pass on higher costs to their customers. One piece of good news is that improving demand conditions permitted firms to share some of the higher costs with their customers, Aw added.

Source: Manila Times June 01, 2018 17:23 UTC