PH manufacturing growth rises in May

Manufacturing companies in the country saw their operations improve last month as the accelerated growth in new orders encouraged businesses to increase production, an IHS Markit/Nikkei survey found.

Results of the survey released on Monday showed that the seasonally adjusted manufacturing Purchasing Managers’ Index (PMI) climbed to 51.2 in May from 50.9 in April, signaling a “modest, but stronger, improvement in the health of the manufacturing sector.”