Factory output slightly dipped in March
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Metro Manila (CNN Philippines, April 7) — The country's factory output saw a slight decline in March but the level remained on expansionary territory, according to a recent survey of local manufacturers conducted through purchasing managers.
Data analytics firm IHS Markit estimated March manufacturing output at 52.2 points on its Philippines Manufacturing PMI index, a bit down from the 52.5 in February. However, the latest figure is still well above the PMI's 50.0 neutral value that separates expansion from contraction.
"The latest reading was indicative of a modest improvement in the health of the manufacturing sector with growth registered throughout the first quarter of 2021," the IHS Markit's report said.