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Manila Bulletin devider Philippines devider National devider Booming Philippine manufacturing sector to fuel job creation--Tiangco

Booming Philippine manufacturing sector to fuel job creation--Tiangco

Published Jan 5, 2025 03:40 am

At A Glance

  • Navotas 1st district Rep. Toby Tiangco believes that the sustained growth of the local manufacturing sector will serve as a dynamo for job generation in the country.

Jobs.jpeg(MANILA BULLETIN)

 

 

 

 

 

 

 

 

Navotas 1st district Rep. Toby Tiangco believes that the sustained growth of the local manufacturing sector will serve as a dynamo for job generation in the country.

This, as the administration congressman noted that the Marcos administration was "fully committed to supporting our manufacturing sector".

"The Philippine government is Under the leadership of President Marcos, we aim to further strengthen manufacturing as a major contributor of 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.

"This is a great way to begin the year. We hope that our robust PMI data will translate into faster GDP growth and increased demand, allowing businesses to expand their workforce and create more jobs for Filipinos," he said.

ASEAN stands for Association of Southeast Asia Nations, of which the Philippines is a founding member.

 

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