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Lockdown pushes Philippines’ April PMI into contraction BusinessWorld 3 hrs ago © Provided by BusinessWorld Filipinos work at Kinpo Electronics factory in Malvar, Batangas, Aug. 10, 2018. REUTERS/ERIK DE CASTRO © Provided by BusinessWorld Filipinos work at Kinpo Electronics factory in Malvar, Batangas, Aug. 10, 2018. REUTERS/ERIK DE CASTRO By Reporter PHILIPPINE factory activity slumped anew in April, as renewed lockdown restrictions in Metro Manila and nearby provinces hampered manufacturers’ operations and dampened demand, a survey by IHS Markit showed. The Philippine Manufacturing Purchasing Managers’ Index (PMI) sharply fell to 49 in April from 52.2 in March, “to signal a marginal contraction in operating conditions across the Filipino manufacturing sector.”

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