PH factory slump deepens on weak sales, El Niño

MANILA, Philippines — Philippine factory activity contracted further in October as manufacturers grappled with weak demand at home and abroad, while unusually hot weather linked to the ongoing El Niño episode weighed on production. The country’s Purchasing Managers’ Index (PMI), a gauge of manufacturing activity, fell to 49.1 in October from 49.6 in September, according to