THE Philippine manufacturing sector continued to gain momentum in April but the pace of growth was still slower compared to a year ago, as inflationary pressures remained elevated, an IHS Markit/Nikkei survey found. Results released on Wednesday showed a seasonally adjusted Purchasing Managers’ Index (PMI) of 52.7 for the month, a marginal improvement from March’s 51.5 but much slower than the 53.3 recorded in April last year. The PMI is an indicator of the economic health of the manufacturing sector. It is based on several indicators including output, new orders, backlogs, output and input prices, suppliers’ delivery times, stocks of finished goods, purchases, employment, and future output. “The latest reading was the highest for the year so far, signaling a robust improvement in the health of the sector,” Nikkei said.

Source: Manila Times May 02, 2018 03:45 UTC