THE S&P Global reported that the Philippine manufacturing purchasing managers index (PMI) for the month of February 2024 has grown and continues to show improvement.

According to S&P Global, the country's manufacturing score as of February was at 51, which is better than the January 2024's index of 50.9.

This meant that the country's manufacturing PMI last month showed better performance as well than the regional score of 50.4.

According to S&P Global Market Intelligence economist Maryam Baluch, the country’s manufacturing score last month improved on the fresh rise in employment and sustained growth in manufacturing activity.

Presently, the S&P new orders had risen last month when compared to the  start of the year.

This signaled that the demand conditions have improved.

Meanwhile, the slowdown for the performance of factories last month was due to continued pressures on supply chains, raw materials shortage, and higher input costs and output charges.

“These concerns also clouded sentiment, with confidence for the year ahead weakening," Baluch said.