Purchasing managers index hits 3-year high

By Mayvelin U. Caraballo

Apr 02, 2022 12:20 am

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.

BACK IN BUSINESS. Delivery workers load merchandise into a truck on San Fernando Street, Binondo, Manila to be delivered to various retail and wholesale stores in the area on Friday (Apr. 1, 2022). Several business establishments have resumed up to 100 percent operation for their fully vaccinated employees as the country's economy continues to pick up from the impact of the coronavirus pandemic. (PNA photo by Ben Briones)

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