Navotas Representative Toby Tiangco expressed optimism that the sustained growth of the manufacturing sector will boost job creation and fuel economic development in the country.
“The Philippine government is fully committed to supporting our manufacturing sector. Under the leadership of President Marcos, we aim to further strengthen manufacturing as a major contributor to economic growth and job generation,” Tiangco said.
He cited the recent S&P Global report, which showed the Philippines’ Purchasing Managers’ Index (PMI) rising to 54.3 in December, significantly higher than other ASEAN countries.
“It is worth noting that the latest reading is the Philippines’ strongest result since November 2017 and the 16th consecutive month that the PMI had settled above the 50-mark,’ Tiangco said. “More importantly, the Philippines’ PMI remained the fastest among six ASEAN member countries in December, ahead of Thailand (51.4), Indonesia (51.2) and Myanmar (50.4),” he added.
PMI readings above 50 signal growth, while readings below 50 indicate contraction. Tiangco described the PMI report as a promising start for 2025.
