The country’s Purchasing Managers’ Index (PMI) slowed for the third consecutive month in April, also marking an eight-month low, according to the latest report from Standard & Poor’s (S&P) Global. Know more:
THE country’s Purchasing Managers’ Index slowed for the third consecutive month in April, also marking an eight-month low, according to the latest report from Standard & Poor’s Global.
“Additionally, price pressures cooled further during the latest survey period. While operating expenses grew at a solid rate, the pace of inflation was the weakest in two-and-half-years. Reflecting softer hikes in cost burdens, manufacturers raised their selling prices at the slowest pace in 28 months,” Baluch said.
S&P Global also reported “widespread reports of resignations” that led to a third consecutive month of contraction in payroll numbers across Filipino firms. Apart from staff shortages, firms also experienced material shortages and expensive materials from some suppliers also affected the sector’s performance.
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