India, Sept. 30 -- The manufacturing sector in the Philippines dropped into contraction territory in September, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 49.6.
That's down from 54.9 in August and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.
Contributing to the headline figure was a renewed fall in production levels in September. The downturn in output was the first in nine months and the sharpest since November 2025. Panelists suggested that lower production was due to reduced new order inflows and international competition.
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