(RTTNews) - The manufacturing sector in the Philippines accelerated in April, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 52.2.
That's up from 50.9 in March, and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.
New orders rose further in April and at a quicker pace. The upturn was the fastest recorded since November last year. Export market conditions also improved in April, with new export orders rising for the third month running and at the quickest pace in five months.
Rising inflows of new work supported renewed growth in goods production at Filipino manufacturers. Moreover, the rate of expansion was the most pronounced in four months and solid overall.
