The seasonally adjusted Nikkei Philippines Manufacturing Purchasing Managers' Index rose to 52.7 last month from 51.5 in March. The latest PMI figure was the highest for the year so far, signaling a solid improvement in the sector’s health. “The rise in production and job gains helped firms to work through their backlogs,” Nikkei said. CostsHowever, Nikkei said average cost burdens rose in April due to higher fuel prices, among others. “With companies’ optimism remaining high, despite the dip in April, it looks likely that growth may well accelerate further in coming months,” Aw added.

Source: Philippine Star May 02, 2018 03:11 UTC