Manufacturers in the Philippines remain optimistic about business growth over the next 12 months despite a decline in factory output in March, according to the latest S&P Global Philippines Manufacturing PMI report.
Business sentiment reached its highest level since December 2024, as firms anticipate stronger demand due to new projects and additional clients.
However, the manufacturing PMI dropped to 49.4 in March, falling below the neutral score of 50 for the first time since August 2023, signaling a decline in sector activity.
The downturn was attributed to growing competition and fewer client orders, leading to reduced output and a slight drop in export business.
Despite this, employment remained stable, and inflationary pressures were contained.
Source: PhilNews24 | April 3, 2025
