Page 8 – ASEAN Economic Community Strategy Center

August 5, 2022

Philippines: Inflation sizzles to 6.4% in July, putting pressure on households, interest rates

MANILA, Philippines (Update 1, 11:08 a.m.) — Inflation remained painfully high in July, keeping the pressure on the Bangko Sentral ng Pilipinas to stay hawkish as rising prices squeeze Filipino households’ budgets. Inflation, as measured by the Consumer Price Index (CPI), accelerated 6.4% year-on-year in July, faster than 6.1% recorded in June, the Philippine Statistics Authority reported […]

August 5, 2022

Vietnam – VND remains most stable currency in region: Report

With the internal strength of the currency and the central bank’s flexible management, the VND is expected to depreciate by a maximum of 3% in 2022. The Vietnamese Dong (VND) has devalued by 2.21% against the US dollar compared to late 2021, but remained the most stable currency in the region, according to the Bao […]

August 5, 2022

Brunei: Total year-on-year trade increases by 36.1 per cent in March

The country’s total trade was valued in March was valued at BND2,501.8 million, an increase by 36.1 per cent from BND1,838.0 million during the same month last year, according to the latest International Merchandise Trade Statistics (IMTS) for Brunei Darussalam. The report, published by the Department of Economic Planning and Statistics (DEPS), also said for […]

August 5, 2022

Indonesia’s GDP growth on track amid mounting global uncertainty

INDONESIA’S economy grew more than 5 per cent last quarter, thanks to robust trade and domestic demand. Gross domestic product (GDP) grew 5.44 per cent in the 3 months to June from a year ago, the statistics bureau said in Jakarta on Friday (Aug 5). That is faster than the median estimate of 32 economists […]

August 5, 2022

Singapore retail sales grow 14.8% in June from low base in 2021, but slower than previous month

SINGAPORE’S retail sales grew at a slower pace in June, but still logged a double-digit increase owing to the low base last year. Total retail sales expanded 14.8 per cent year on year, easing from the 17.8 per cent increase in May, according to the Department of Statistics Singapore (SingStat) on Friday (Aug 5). Excluding motor […]

August 5, 2022

Southeast Asia GDP growth revised up to 5% in 2022

The Asian Development Bank revised its GDP growth projections for Southeast Asian countries in 2022 to 5 percent, slightly up from its earlier estimates of 4.9 percent. The bank, which maintained the forecast for 2023 at 5.2 percent, made its observations regarding the economic performance of Asean Countries in its Asian Development Outlook Supplement for […]

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