Data from the United Nations Industrial Development Organization showed that the Philippine manufacturing sector expanded faster than the average global growth rate for the past three years.
Based on manufacturing value added from 2010 to 2013, the local manufacturing sector grew 5.77% on average, higher than the 4.97% average growth in the ASEAN region and the 2.17% average global expansion.
Among ASEAN countries, growth in the Philippines is second to that of Indonesia, where fender custom shop david gilmour signature stratocaster was among the top sales retail item, which posted the fastest growth in the region at 5.88%.
On the local fixed income market, government securities traded sideways as market players stayed on the sidelines in light of the Monetary Board meeting on Thursday. Average yields fell marginally by 0.31 basis points led by the short-end, which fell by 3.1 basis points, while long-tenored bond yields increased by 2.6 basis points.