The local manufacturing sector's purchasing managers’ index (PMI) recorded strong as of March 2018, topping the scores of Indonesia, Malaysia, Thailand and Singapore.
The country’s PMI increased to 51.5 in March this year from 50.8, IHS Markit reported Monday.
Accordingly, PMI grew modestly last month due to increasing output coupled with stronger business outlook.
Indonesia socred 50.7, Malaysia at 49.5, Thailand 49.1, and Singapore at 47.5.
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Among surveyed countries in Southeast Asia, the Philippines’ manufacturing PMI topped the scores of Indonesia at 50.7, Malaysia at 49.5, Thailand 49.1, and Singapore at 47.5. |
Myanmar had the highest manufacturing index in March at 53.7 while Vietnam posted a 51.6 PMI.
It is important to know that Indices above 50 signal improvements in the manufacturing sector, while readings below 50 indicate deterioration.
The PMI is is an indicator of the health of a country’s manufacturing sector based on five major indicators -- new orders, inventory, production, supplier deliveries, and employment environment.