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Philippine manufacturing activities rebounded in October, even with a decline in new requests and production, according to S&P Global.
The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 in October, an improvement from 49.9 in September.
A PMI value exceeding 50 signifies enhanced operational conditions compared to the previous month, while a value below 50 indicates a decline in operational conditions.
Maryam Baluch, an economist at S&P Global Market Intelligence, mentioned that the October PMI figure for the Philippines presents a “blended scenario.”
“The two primary sectors, new requests and production, showed further reductions. Moreover, new export orders and purchasing activity also experienced fresh contractions, underscoring the weak demand circumstances,” she stated.
S&P Global pointed out that production and new requests “have now not achieved any growth for a second consecutive month, a pattern not witnessed in over four years.”
Nonetheless, Ms. Baluch noted that Filipino manufacturers have become more hopeful regarding their growth outlook for production in the year ahead.
“The sector has now remained in sluggish territory for a majority of the second half of 2025 thus far. Whether a significant recovery in performance can be seen in the upcoming months will heavily rely on efforts to boost consumer demand,” she added. — Aubrey Rose A. Inosante
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