Philippine factories finish 2021 strong as demand recoversInformation provider IHS Markit reported the Philippines' purchasing managers index inched up to 51.8 in December, marking the first monthly expansion in nine months. MANILA, Philippines — Local factory output continued its nascent climb in December, finishing 2021 strong as manufacturers gear up for improved operations despite continued supply chain disruptions. British information provider IHS Markit reported the Philippines' purchasing managers’ index (PMI), a measure of manufacturing output, stood at 51.8 in December, the strongest expansion in nine months. "Supporting this was an improvement in domestic demand and a slight uptick in output, the first for nine months," said Shreeya Patel, economist at IHS Markit. Indeed, Markit reported that job shedding persisted in December, albeit at a softer pace compared to the past 22 months.

Source: Philippine Star January 03, 2022 07:11 UTC