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Philippines: Jobless rate softens in May as economy stayed open

MANILA, Philippines — Unemployment continued to soften in May, while the quality of jobs improved beating but some sectors are still slashing their workforce as inflationary headwinds persisted. In a briefing on Friday, the Philippine Statistics Authority reported the results of a nationwide survey of 11,042 households showed there were 2.17 million Filipinos who were […]

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Cambodia: Kingdom’s GDP revised to 5.5% amid risks in real estate

National Bank of Cambodia (NBC) has revised Cambodia’s Gross Domestic Product (GDP) growth to 5.5 percent from 5.6 percent for 2023, while the banking system’s stability has been maintained and the non-banking industries have grown gradually even though external have negatively affected the real estate sector, said an NBC’s officials. The revised economic growth figure […]

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HSBC lowers Vietnamese GDP growth forecast to 5%

Despite Vietnam’s GDP in the second quarter rising by a higher-than-expected pace of 4.1% on-year, HSBC reduced the growth forecast for 2023 to 5.0% from the previous figure of 5.2% due to mounting broad-based challenges. Despite this, the bank points out that there will be a meaningful rebound occurring ahead in the fourth quarter of […]

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