The manufacturing sector in the Philippines continued to expand in January, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 53.5.
That's up from 53.1 in December and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
An expansion in output was registered for the fifth month running. The pace of growth quickened on the month, to signal a sharp rise in production levels. Anecdotal evidence pointed to increasing demand for Filipino manufacturing goods. Similarly, new orders also rose at a faster pace in January.
Additionally, foreign demand for goods manufactured in the Philippines also picked up in January. Growing international client numbers and stronger demand from China helped revive exports for the first time in 11 months.
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