Philippines manufacturing leads ASEAN in growth

MANILA, Philippines — The Philippine manufacturing sector outperformed those in ASEAN despite registering a slower expansion in January, according to the latest Nikkei ASEAN Manufacturing Purchasing Managers’ Index (PMI).

Regional manufacturing activity was off to a sluggish start this year as ASEAN manufacturers reported a reduction in output amid weak exports, said IHS Markit, the firm that collected data for the PMI.

The headline manufacturing PMI for ASEAN slipped to 49.7 in January from 50.3 in December, with six out of seven monitored countries reporting lower PMI readings.

Read more: Philippine Star