The manufacturing sector in the Philippines climbed back up into expansion territory in April, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 53.0.
That’s up from 49.4 in March, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
The fresh upturn in the health of the sector was supported by renewed expansions in the two largest components of the headline index, new orders and output. Rates of growth were sharp and the most pronounced in the year-to-date for both indicators.
Underlying data indicated that the upticks in new orders and output were driven by new client acquisitions and the upcoming election. Meanwhile, international demand for goods produced by the Philippines manufacturing sector remained broadly stagnant for a second consecutive month in April.
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