In Asian trading on Monday, the Philippine peso weakened to 47.1450 against the U.S. dollar. If the Philippine currency slides further, it may target the 47.27 level. The dollar-peso pair closed Friday's deals at 46.9350.

The Philippines National Statistical Office said in a report that the volume of production index for the manufacturing sector dropped 13.3% year-on-year in August, slower than the revised 15.9% fall in the previous month.

On a monthly basis, the volume of production index slipped 1.1% in August, while the value of production index grew 0.4%.

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