November factory output at 29-month high

Local manufacturing activity rose to a 29-month high in November, powering through headwinds from recent typhoons that created supply problems and inflationary pressures for factories. A survey of around 400 companies showed that the Philippines’ Purchasing Managers’ Index (PMI)—a closely watched gauge of manufacturing performance favored by policymakers around the world—had risen to 53.8 from
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