Manufacturing growth weakest since July '22

Jul 04, 2023 12:42 am

PHILIPPINE manufacturing growth slowed to a one-year low in June as demand weakened, a financial information services firm reported on Monday.

While the country's manufacturing PMI (purchasing managers' index) remained above the 50.0 mark for a 17th straight month, the latest reading of 50.9 — down from 52.2 in May — 'signaled the weakest improvement in business conditions since July 2022,' S&P Global Market Intelligence said.

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