MANILA, (PIA) — Navotas City Representative Toby Tiangco expressed optimism that the continued growth of the manufacturing sector will play a pivotal role in job creation and 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.
Citing a recent S&P Global report, Tiangco highlighted the Philippines’ Purchasing Managers’ Index (PMI), which rose to 54.3 in December, surpassing figures from other ASEAN countries.
“It is worth noting that this is the Philippines’ strongest PMI reading since November 2017 and the 16th consecutive month the index has remained above the 50-mark,” he said.
The PMI, which indicates economic health, shows readings above 50 signal growth, while those below indicate contraction.
Tiangco noted that the Philippines’ PMI was the fastest among six ASEAN member countries in December, outpacing Thailand (51.4), Indonesia (51.2), and Myanmar (50.4).
He 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,” Tiangco added.
Tiangco remains hopeful that these positive trends will lead to substantial economic benefits and employment opportunities for the Filipino people as the government focuses on bolstering the manufacturing sector. (JCO/PIA-NCR)
(Cover photo courtesy: PIA CALABARZON; Photo of Rep. Tiangco: Radyo Pilipinas)
