Philippines Manufacturing Sector Falls Into Contraction - S&P Global

(RTTNews) - The manufacturing sector in the Philippines slipped into contraction territory in November, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 47.4.

That's down from 50.1 in October, and it falls beneath the boom-or-bust line of 50 that separates expansion from contraction.

New orders placed with manufacturing firms in the Philippines fell for the third month running, and at the fastest rate since August 2021. Lower orders were attributed to weak customer demand and reduced requirements due to product life cycle changes.

Meanwhile, new export orders fell for the second month running and to the greatest extent since September 2024. Production followed the same trend as new orders in November, falling for the third month running and at the fastest rate since August 2021.