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The Philippine Economy continues to expand with the Purchasing Managers’ Index peaking to its highest in November 2009 at 63.70.

Expansion of the Philippine economy is very evident with an index of 63.70 for PMI November 2009. PMI indices are well above the upper boundary beginning July 2009.

The PMI is based on interviews with a statistical sample of 400 purchasing and supply managers from top manufacturing companies -- 200 in the National Capital Region and 200 outside the National Capital Region.

Interviews are conducted during the last five days of the current month to cover economic activities for that month as compared to activities in the previous month. The results are reported during the first week of the following month.

The PMI is based on actual conditions as presented by the purchasing and supply managers and is considered an effective foresight of conditions in the economy as a whole.

A PMI below 50 suggests a contraction of the economy, while a PMI above 50 indicates expansion.

PMI is a joint project of the Philippine Institute for Supply Management (PISM), Foundation of the Society of Fellows in Supply Management (SOFSM) and The Asia-Pacific Centre for Research.