The manufacturing sector in the Philippines continued to expand in July, albeit at a slower pace, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 50.4.
That’s down from 50.8 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Virus-related restrictions persisted in the Philippines, which contributed to weak domestic demand, and a general reluctance to spend in July. That said, the decline in new order volumes was broadly similar to that seen in June, and only marginal overall.
In contrast, international demand for Filipino manufactured goods rose for the third successive months, and at a modest pace amid improvements in global economic conditions. Production levels fell for the fourth month running, though at only a fractionally quicker pace to that seen in June.