Alarm bells are ringing across the Philippine manufacturing sector as recent data reveals a significant downturn in factory activity. November saw the Manufacturing Purchasing Managers’ Index (PMI) take a sharp dive, marking its steepest decline in over four years.
This worrying trend is primarily attributed to a notable contraction in both factory output and new orders. Industry observers point to severe weather disruptions as a major contributing factor, hampering production lines and impacting demand. The steep fall signals a challenging period ahead for manufacturers, highlighting the vulnerability of the sector to external shocks and the urgent need for strategies to bolster resilience against such setbacks.
Source: Original Article
