MANILA: The Nikkei Philippines Manufacturing Purchasing Managers’ Index, or PMI, fell to 55.7 in December from 56.3 in November.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. December’s PMI shows the country’s manufacturing conditions improved at a slower pace than November.
In December, the sub-component Suppliers’ Delivery Times Index marked below the neutral 50 level, at 48.2, for the first time in the survey history.
Bernard Aw at IHS Markit, which compiles the survey, said “There were concerns [by the panel firms] that traffic congestions and customs bottlenecks impeded the smooth delivery of pre-production materials.”
