S&P Global reported on Friday that Philippine manufacturing remained strong in March, with the country's purchasing managers index (PMI) reaching a new three-year high of 53.2.
March's PMI was highest since November 2018's 54.2. Readings above 50 indicate expansion and readings below 50 indicate contraction. The index, which is based on senior executive surveys, considers new orders, output, employment, supplier delivery time and stock levels.
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