The country’s manufacturing PMI slipped to a six-month low in February, an IHS Markit/Nikkei survey found, reflecting job cuts and slower growth in input inventories. The PMI is an indicator of the economic health of the manufacturing sector. “Growth in the Philippines manufacturing sector slowed further midway through the first quarter. The manufacturing sector continued to report falling work backlogs, reflecting an ongoing lack of capacity pressure that also weighed on hiring. While firms generally commented on voluntary leavers, there were reports of layoffs as part of cost-saving measures,” IHS Markit/Nikkei said.

Source: Manila Times March 01, 2018 16:18 UTC