The manufacturing sector in the Philippines continued to contract in May, albeit at a slower rate, the latest survey from IHS Markit revealed on Monday with a manufacturing PMI score of 40.1.
That’s up from the record low 31.6 in April, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, the rates of decline in output and new orders eased but remained sharp.
Employment levels fell steeply again, while output prices ricked higher as cost pressures rose.
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