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Asia   The Market Growth Index remained stable

Philippines SMI reports strong economic growth

Philippines workersThe Philippines Sales Managers Index (SMI) for April suggests that the rate of growth of the economy has continued to increase.

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READ MORE Strong sales growth drives improving business confidence in Asia

The Headline Sales Managers’ Index signaled a sustained and fast rate of growth, with an index reading of 80.7 in April.

The Market Growth Index remained stable at 76.6, the joint highest level in close to two years and representative of increasing GDP growth rates.

Business Confidence levels continued to remain very high along with new employment levels which are being reinforced by rapid market and sales growth.

Panel members are suggesting that new foreign investment from multinational companies and new infrastructure projects have had a positive effect on current businesses and the supply chain.

Government policies for improving working conditions and employee salary standardisation has helped business with good fundamentals and is having a positive effect on staffing levels.

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