Port congestion slows manufacturing growth in March

MANILA, Philippines --- Manufacturing growth in March weakened to its slowest in seven months partly due to congestion at the country's main ports in Manila. The latest Nikkei Philippines Manufacturing Purchasing Managers' Index (PMI) released Monday showed the seasonally adjusted PMI declined to 51.5 last month from 51.9 in February, making it five straight months of slowing growth. Since the March PMI score stayed above 50, there was an overall increase in manufacturing activity; however, it was the lowest since the 50.6 posted in August last year. In a report, IHS Markit, which compiles the PMI survey data, attributed the sliding headline PMI to "a notable drop in the rate of...

Keep on reading: Port congestion slows manufacturing growth in March

from INQUIRER.net https://ift.tt/2uCqJs2