The PMI takes into account new orders, output, employment, suppliers' delivery time, and stocks. "June data highlighted a partial rebound in the Filipino manufacturing sector following two consecutive months of contraction seen at the start of the second quarter. Expectations of greater production levels were reflected in firms adding to their stock levels, amid hopes of a stronger third quarter," said IHS Markit Economist Shreeya Patel. Production levels declined for the third straight month but at a softer rate compared to the contraction seen in April. Looking ahead, manufacturing firms are optimistic about the overall prospects for higher production levels in the next 12 months.

Source: Manila Times July 01, 2021 17:45 UTC