Mister Global PH 2021 Mico Teng Showcases ASUS SmartO Mouse Silent Plus

Mico Teng, Mister Global PH 2021, embraces the power of productivity with the ASUS SmartO Mouse Silent Plus—his essential companion for a busy lifestyle.

ASUS’s SmartO Mouse Is Designed For The Uncomfortable, Offering Enhanced Productivity

ASUS’s SmartO Mouse redefines comfort and productivity, designed for those who work long hours. Its ergonomic features and quiet clicks keep distractions at bay, making it perfect for the modern professional.

Gokongwei Group Celebrates Corporate Governance Excellence At 2024 Golden Arrow Awards

The Gokongwei Group shines at the 2024 Golden Arrow Awards, celebrating exceptional achievements in corporate governance with multiple recognitions.

Experience The Best Of Bacolod Living In An Address Embracing Modernity And Tradition

Bacolod's essence comes alive at Saludad, where modern living beautifully intertwines with rich traditions.

Philippine Manufacturing Index Posts Growth In July

2202

Philippine Manufacturing Index Posts Growth In July

2202

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported Thursday that Philippine factories recorded growth in July 2024.

Philippine manufacturing PMI last month stood at 51.2, slightly lower from the 51.3 score in June this year.

As long as the score is above 50, the sector is considered to have improved, while scores below 50 is considered a deterioration.

The improvement in the local manufacturing performance was driven by the positive demand trend, a renewed rise in hiring activities, and the muted inflationary environment.

“The second half of the year started modestly, with the Filipino manufacturing sector signaling further upticks in output and new orders,” S&P Global Market Intelligence economist Maryam Baluch said.

S&P said demand trends continued to increase across the manufacturing sector, with new orders recording a growth rate faster than June’s five-month low.

On the other hand, demand from overseas market had moderated last month.

“Though in both cases, the rates of increase were weaker than their respective long-run averages, thereby indicating relatively subdued growth across the sector,” Baluch added.

With the sustained rise in production, factories’ purchasing activities also improved in July.

Factories, likewise, registered growth in employment since April.

“Nonetheless, a historically muted inflationary environment, as indicated by the PMI price gauges, could open the door to policy rate cuts. Easing financial conditions should help solidify and strengthen growth in the coming months,” Baluch said.

Meanwhile, manufacturing companies remained optimistic in the next 12 months. (PNA)