MANILA, Philippines — The country’s labor situation deteriorated anew in August as the number of jobless Filipinos rose following the fresh round of lockdowns due to a spike in COVID cases. The latest report of the Philippine Statistics Authority (PSA) showed that the unemployment rate jumped to 8.1 percent from 6.9 percent in July. This […]
Read MoreMANILA, Philippines — The country’s total debt soared to a new record high of P11.64 trillion in August as government piled up more than P2 trillion in new debts over the past 12 months, the Bureau of the Treasury (BTr) said yesterday. The BTr said the debt pile jumped by over 21 percent from P9.61 […]
Read MoreMANILA, Philippines — More foreign portfolio investments or speculative funds returned in August, reversing the net outflow in July, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin Diokno said in his weekly online press conference that foreign portfolio investments – also referred to as hot money – turned to a net inflow of […]
Read MoreMANILA, Philippines — After a sharp decline, local factories returned to expansion mode in September as quarantine measures were loosened in Metro Manila. A monthly survey of around 400 companies showed the country’s purchasing managers’ index (PMI), bounced back to 50.9 in September from 46.4 in the previous month, IHS Markit reported Friday. While the […]
Read MoreMANILA, Philippines — Banks finally got the better end of record-low interest rates as lending recovered with a 1.3 percent growth in August, ending eight straight months of contraction, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the credit growth recorded by universal and commercial banks in August reversed the 0.7 […]
Read MoreMANILA, Philippines — Higher prices of oil, electricity and other basic consumer items likely pushed inflation beyond 5% in September, the Bangko Sentral ng Pilipinas said Thursday. In a statement, the BSP said consumer price growth likely settled between 4.8-5.6% this month. So far, inflation has been hovering above the upper-end of the government’s 2-4% […]
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