Oct manufacturing PMI highest in 10 months
THE Philippines’ manufacturing PMI hit a 10-month high in October, an IHS Markit/Nikkei survey found, as output and new orders picked up.
Results released on Monday showed a seasonally adjusted Purchasing Managers’ Index of 54 for the month, up from 52 in September and from 53.7 a year earlier.
The latest reading is also the highest since the 54. 2 in December.
The PMI is a composite index representing the weighted average of five individual sub-components, namely new orders, output, employment, suppliers’ delivery time and stocks.
Readings above 50 signal an expansion in manufacturing while readings below the benchmark signal a contraction. MAYVELIN CARABALLO
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