Presidential spokesperson Ernesto Abella on Tuesday (May 9) hailed the economic gains which have been made below the Duterte adminitration, such because the continued robust efficiency of the manufacturing sector.
Abella mentioned outcomes of the current Nikkei ASEAN Manufacturing Purchasing Managers’ Index confirmed the nation’s manufacturing sector scored 53.three, indicating a strong improve in output for the month of April. It is second to Vietnam.
Adding to the excellent news, Abella mentioned, is the January 2017 Labor Force Survey performed by the Philippine Statistics Authority’s exhibiting that the most important share of employment may be attributed to the manufacturing sector.
“Hence, this is consistent with the Duterte administration’s goal of generating 1.2 million jobs annually as it continues to accelerate growth in the manufacturing sector,” he mentioned.
The Palace official added that two year report excessive by the Philippine Stock Exchange which surged to 7,962.33 final Monday displays the rising market and investor confidence within the Duterte administration.
“The Philippine economy is said to have likely grown 7% in the first quarter of 2017 and we are optimistic that we will reach our target of sustained and inclusive economic growth for the rest of the year as we begin to roll out our Build-Build-Build infrastructure campaign,” Abella mentioned.