MANILA (XINHUA) – The unemployment rate remained at 6.4 per cent in February despite easing of pandemic restrictions, the Philippine Statistics Authority (PSA) said yesterday. In a virtual press conference, PSA head Dennis Mapa said the labour force participation rate increased from 60.5 per cent in January to 63.8 per cent in February. Socioeconomic Planning […]
Read MoreMANILA, Philippines — The country’s manufacturing output rebounded at a faster pace in February after the economy reopened from the Omicron surge at the beginning of the year. Factory output, as measured by the Volume of Production Index (VoPI), went up by 84.3 percent in February, quicker than the 17.1 percent uptick in January, and […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) expects job creation and wage offers to improve moving forward, as the passage of amendments to economic laws are seen enticing new investors into the Philippines. In an economic bulletin, DOF chief economist Gil Beltran said the changes made to the Foreign Investments Act (FIA), Retail Trade […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said consumer complaints declined by 17.6 percent to 19,181 last year from 23,275 in 2020. The regulator said almost half or 46 percent of the total number of consumer complaints last year were processed through the automated chatbot BSP Online Buddy (BOB). This was a significant […]
Read MoreMANILA, Philippines — The Philippines remains on track toward economic recovery this year as restrictions are eased, but growth may fall short of government targets as downside risks persist due to global tensions. In its Asian Development Outlook 2022 released yesterday, Manila-based Asian Development Bank (ADB) said the Philippine economy may grow by six percent […]
Read MoreMANILA, Philippines — Headline inflation will hover around the four percent level for the rest of the year and is not expected to significantly breach the central bank’s target, a global think tank said. In its latest economic monitor, Pantheon Macroeconomics said the risk of runaway inflation or hyperinflation in the Philippines remains minimal, even […]
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