Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, March 2022

Philippines’ factory output surges to more than 3-year high in March

The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) improved to its second straight month at 53.2 in March from 52.8 in February thanks to continued relaxation of movement restrictions. This matched the PMI reading in December 2018 and the highest in 40 months or since the 54.2 logged in November 2018. The 50 mark separates improvement and deterioration of manufacturing conditions from the previous month.