Philippines tops ASEAN with highest PMI: S&P Global

The country's PMI surpassed the ASEAN average of 50.8 and outperformed regional peers

The Philippines recorded the highest Manufacturing Purchasing Managers' Index (PMI) among Southeast Asian nations, reaching 53.8, up from 52.9 in October, according to S&P Global.

This 29-month peak indicates a significant improvement in the manufacturing sector, with indices above 50 signaling expansion.

The country's PMI surpassed the ASEAN average of 50.8 and outperformed regional peers such as Vietnam and Thailand, which posted PMIs of 50.8 and 50.2, respectively.

Other ASEAN countries recorded PMIs below the neutral threshold: Myanmar at 49.8, Indonesia at 49.6, and Malaysia at 49.2.

The sustained growth in the Philippines' manufacturing sector is attributed to increased demand for locally made products, leading to rises in purchasing activity, inventory levels, output, new sales, and employment.

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