The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) said the Philippines and Singapore are the only countries in Asean that recorded improvement in manufacturing index for July 2021.
The manufacturing score of Asean fell to its 13-month low to 44.6 due to the resurgence of coronavirus disease 2019 (Covid-19) in the region,
PMI measures the health of the manufacturing sector, with scores above 50 reflecting improvement, while below the neutral score means deterioration.
Of the seven Asean countries monitored by IHS Markit, Singapore recorded the biggest improvement of 56.3.
The Philippines’ manufacturing score last month settled at 50.4, slightly lower than June 2021’s 50.8 index.