The country’s manufacturing sector continued to be in expansion mode but registered its slowest growth in seven months, according to the latest report from Standard & Poor’s (S&P) Global. Kmow more:
THE country’s manufacturing sector continued to be in expansion mode but registered its slowest growth in seven months, according to the latest report from Standard & Poor’s Global.
“Operating conditions improved at the slowest pace in seven months, partly due to the softer rise in production and stocks of purchases, and with a second month of job shedding weighing on the headline index,” Maryam Baluch, Economist at S&P Global Market Intelligence, said. According to the report, goods producers raised their purchasing activity in March in order to support growth in new orders and mitigate against future hikes in costs. However, the pace of growth eased from January’s recent high as high input prices deterred some goods producers.
That said, S&P said the rate of input price inflation was the slowest since December 2020, and softer than the historical average. Last week, higher consumer demand for various products and services as well as the reopening of the economy made businesses in the country optimistic about the next 12 months, according to the Bangko Sentral ng Pilipinas .
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