MANILA, Philippines — The projected speed bump in the economic recovery in the third quarter arising from the reimposition of a strict lockdown in the National Capital Region (NCR) is likely to prompt the Bangko Sentral ng Pilipinas (BSP) to keep interest rates at record lows. ING Bank Manila senior economist Nicholas Mapa said the […]
Read MoreMANILA, Philippines — Local factories were on a roll in June, as they posted triple-digit output growth for the third straight month mainly due to help from a low base. But new lockdowns meant to curb the spread of Delta variant are posing a big threat to recovery. What’s new The Philippine Statistic Authority’s monthly […]
Read MoreMANILA, Philippines (Update 1, 1:46 p.m.) — Consumer price growth softened to its lowest level in 7 months in July to return to the government’s target, mainly due to easing transport costs. Inflation, as measured by the consumer price index, cooled down 4% year-on-year in July, slower than 4.1% clip recorded in the preceding month, the Philippine Statistics […]
Read MoreMANILA, Philippines — Higher infrastructure spending in the second half ahead of the national elections in May next year may result in a wider current account (CA) deficit, according to Nomura Singapore Ltd. In a report, Nomura said the government may ramp up its infrastructure spending, resulting in higher imports and wider trade deficit. “Nomura […]
Read MoreMANILA, Philippines — Two-thirds of consumers saw their income negatively affected by the COVID-19 pandemic in the second quarter, with the impact more pronounced for Gen X and millennials, according to a survey by information and insights company TransUnion. Conducted from June 1 to 16, TransUnion’s Consumer Pulse study covering 1,100 respondents showed 66 percent […]
Read MoreMANILA, Philippines — Cross-border digital payments services provider WorldRemit sees remittances from overseas Filipino workers (OFWs) bouncing back, with growth of six to seven percent this year after slumping by 0.8 percent last year due to displacements in host countries amid the COVID-19 pandemic. WorldRemit Philippines country director Earl Melivo told The STAR the resilience […]
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