The Philippines' manufacturing sector bounced back into expansion in April after contracting in March, according to the latest S&P Global Purchasing Managers' Index report released Friday.
The index rose to 53.0 in April from 49.4 in March, rising above the 50 threshold that separates contraction from expansion.
Manufacturers saw a rise in output and new orders during the month. The firms also expanded the purchasing activity, while staffing levels were steady.
On the pricing side, inflationary pressures remained modest. While both input costs and output charges increased, the expansions were historically muted, S&P reported.
Looking ahead, manufacturers maintained an optimistic outlook for output for the next year, but the confidence level slumped to the second-lowest on record, S&P said.
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