{"id":128883,"date":"2017-11-06T21:36:06","date_gmt":"2017-11-07T02:36:06","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=128883"},"modified":"2017-11-06T21:36:06","modified_gmt":"2017-11-07T02:36:06","slug":"palace-lauds-report-on-ph-topping-asean-manufacturing-activity","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/11\/06\/palace-lauds-report-on-ph-topping-asean-manufacturing-activity\/","title":{"rendered":"Palace lauds report on PH topping ASEAN manufacturing activity"},"content":{"rendered":"
\"\u201cThe<\/a>
\u201cThe good news is that the Philippine manufacturing sector is ahead of Association of Southeast Asian Nations (ASEAN) countries,\u201d Presidential Spokesperson Harry Roque said during a Palace briefing. (ACE MORANDANTE\/PRESIDENTIAL PHOTO)<\/figcaption><\/figure>\n

MANILA\u00a0— Malaca\u00f1ang on Monday welcomed the report which showed the Philippines taking the lead in manufacturing activity among ASEAN member states.<\/p>\n

\u201cThe good news is that the Philippine manufacturing sector is ahead of Association of Southeast Asian Nations (ASEAN) countries,\u201d Presidential Spokesperson Harry Roque said during a Palace briefing.<\/p>\n

Citing figures from the Nikkei Philippine Manufacturing Purchasing Managers\u2019 Index (PMI), the Palace official said the country\u2019s manufacturing sector got a score of 53.7 for the month of October, which is higher than last month\u2019s score of 50.8.<\/p>\n

\u201cThis makes the Philippines on top of ASEAN countries in overall growth ranking in manufacturing sector,\u201d Roque said.<\/p>\n

The PMI, the composite indicator of manufacturing performance, is tracked monthly by IHS Markit for Nikkei, Inc.<\/p>\n

A PMI reading above 50 suggests improvement in business conditions from the preceding month, while a score below that signals deterioration.<\/p>\n

According to the report, the country\u2019s October score of 53.7 marked a \u201csolid increase\u201d from its September ratings.<\/p>\n

The Philippines was followed by Vietnam, which has a score of 51.6 and Singapore with 51.3.<\/p>\n

ASEAN as a whole has a score of 50.4.<\/p>\n

\u201cThe growth in manufacturing sector is attributed to the strengthened domestic demand and sustained and maintained export sales, increased volumes of firm production and availability of more capital,\u201d Roque said.<\/p>\n

The manufacturing PMI consists of five sub-indices, with new orders having the biggest weight at 30 percent, followed by output (25 percent), employment (20 percent), suppliers\u2019 delivery times (15 percent) and stocks of purchases (10 percent).<\/p>\n

According to the report, the Philippines manufacturing economy showed greater signs of activity at the start of the fourth quarter, noting that \u201csigns of strengthening demand emerged in October.\u201d<\/p>\n

The fourth quarter usually sees a pickup in household consumption as the Christmas holidays approach.<\/p>\n

The report also noted that \u201cgrowth in both output and new orders picked up noticeably, prompting firms to step up input purchases and hiring.\u201d<\/p>\n

\u201cAnticipating greater demand, companies also built up stocks of inputs and finished goods, while increased staff numbers helped them keep on top of workloads,\u201d the report said.<\/p>\n

Meanwhile, the report said that overseas demand for Philippines\u2019 products was up for a second straight month during October.<\/p>\n

Employment in the Philippines\u2019 manufacturing sector also rose at the start of the fourth quarter in the face of increased production requirements.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Malaca\u00f1ang on Monday welcomed the report which showed the Philippines taking the lead in manufacturing activity among ASEAN member …<\/p>\n","protected":false},"author":33,"featured_media":128745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[31493,15359,978,343,1711],"class_list":["post-128883","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","tag-asean-manufacturing-activity","tag-harry-roque","tag-malacanang","tag-philippines","tag-top","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/128883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=128883"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/128883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/128745"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=128883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=128883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=128883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}