PMI-based production

new businesses placed Filipino manufacturers.

Nikkei said a broad-based rise in PMI was observed in most of the sub-components, as new export up production in August.

“In turn, this led to another steep build-up of post-production inventories,” it said.

Companies also raised their purchases in August, some of which were placed directly into stock that resulted in a rise in preproduction inventories.

On the downside, the rate of job created eased even if companies hired additional staff to increase operating capacity.

“Input costs increased again in August. That said, the rate of input in six months,” according to Nikkei.

costs on to their clients with output prices rising further,” it added.

IHS Markit noted the strong Manufacturing PMI continues to reinforce a strong growth outlook for the Philippine economy in the second half of 2016. with

“IHS Markit forecasts that the Philippines economy will grow at . . . around 6.5 percent in calendar 2016, and will be one of the fastest growing emerging markets in the world this year,” Rajiv Biswas Asia- Pacific chief economist for IHS Markit, said.

The economy grew by 7 percent in the second quarter of the year, bring the upper end of the government’s 6-percent to 7-percent target.

Industrial output rebounded in June, both in volume and in value, from a year earlier.

The latest Monthly Integrated Survey of Selected Industries (MISSI) released by the Philippine Statistics Authority (PSA) showed basic metals largely accounted for the increase.

The volume of production index (VoPI) in June increased by 8.5 percent from a 1.7- percent decline a year earlier, compared with 7.3 percent in May.

The value of production index (VaPI) rose by 4.7 percent from a 7.-percent decline in June 2015. The growth was higher than the revised 2.7-percent increase a month earlier.