The manufacturing sector in the Philippines continued to contract in December, and at a faster rate, the latest survey from market Economics revealed on Monday with a manufacturing PMI score of 49.2.
That's down from 49.9 in November, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, modest contraction in output was observed in December, while there was a strong decline in workforce numbers. However, sentiment improved to its highest since February.
Ongoing lockdown restrictions and poor weather contributed to a decline in output volumes in December. Although modest, the rate of decline was among the fastest in the series history.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2169601/
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