Philippine factory activity back to contraction in September

Philippine factory activity back to contraction in September

MANILA, Philippines —Philippine factory activity slipped back into contraction territory in September as weak demand and intensifying international competition weighed on output, new orders and employment. The latest S&P Global survey of around 400 companies showed the Philippines’ Purchasing Managers’ Index (PMI) fell to 49.6 in September from 54.9 in August, marking the first deterioration since April. READ: Philippine factory activity rises to near 10-year high in August This is now below the