Philippine factory activity bounced back in October, despite a drop in latest orders and production, S&P Global said.
The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) improved to 50.1 in October, a turnaround from 49.9 in September.
A PMI reading above 50 denotes higher operating conditions from the preceding month, while a reading below 50 shows a deterioration in operating conditions.
Maryam Baluch, economist at S&P Global Market Intelligence, said the Philippines PMI reading in October reveals a “mixed picture.”
“The 2 largest segments, latest orders and output, indicated further declines. Moreover, fresh contractions were observed in latest export orders and buying activity, highlighting underlying demand conditions,” she said.
S&P Global noted that output and latest orders “have now didn’t record any growth for a second consecutive month, a trend not seen in over 4 years.”
Despite this, Ms. Baluch said Filipino manufacturers grew more optimistic about their growth prospects for output in the approaching yr.
“The sector has now remained in sluggish territory for many of the second half of 2025 to date. Whether it may possibly see a notable recovery in performance in the approaching months will depend greatly on efforts to stimulate consumer demand,” she added. — Aubrey Rose A. Inosante