FILIPINO manufacturers reported a rebound in operating conditions in June, led by softer declines in output, new orders, employment, as well as a renewed expansion in pre-production inventories, results of the latest IHS Markit survey revealed.
In a report on Thursday, IHS Markit said that after two consecutive months of decline, the purchasing managers index (PMI) went up to 50.8 in June from 49.9 in May.
The PMI takes into account new orders, output, employment, suppliers’ delivery time, and stocks. Readings above 50 signal an expansion; below that, a contraction.