Philippine manufacturing further picks up steam in MayMANILA, Philippines — Growth in the Philippine manufacturing sector improved in May lifted by robust demand, according to monthly tracking done by IHS Markit for Nikkei, Inc., although cost pressures intensified during the month. The seasonally adjusted Nikkei Philippines Manufacturing Purchasing Managers' Index rose to 53.7 in the middle of the second quarter from April’s 52.7, signaling a faster pace of growth for a third straight month. “The upturn in the Filipino manufacturing sector gained further momentum in the middle of the second quarter, lifted by strengthening demand conditions,” said Bernard Aw, principal economist at IHS Markit. Purchasing activity picked up at a stronger pace, but suppliers faced difficulties coping with higher demand. Higher costsHowever, input cost inflation surged in May driven by supply shortages, a weaker peso, higher global commodity prices and tax reforms, the report said.

Source: Philippine Star June 01, 2018 03:56 UTC