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The manufacturing sector in the Philippines continued to expand in November, and at a faster pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 52.7.
That's up from 52.4 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The uptick in the headline figure reflected gains across the top two PMI components: new orders and output. Indeed, November saw rates of growth quicken to eight- and ten month highs, respectively.
Firms noted that strong demand conditions both in domestic and foreign markets, new client wins and increased contract work boosted overall sales and in turn spurred greater production.
