MANILA, Philippines — The economy contracted by a slightly higher 9.6 percent in 2020 from an earlier estimate of 9.5 percent after data revisions by the Philippine Statistics Authority (PSA) The PSA said the country’s gross domestic product (GDP), a measure of economic output, shrank by a higher rate than the earlier figure reported in […]
Read MoreMANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) still expects inflation to breach five percent in the coming months despite easing to 4.5 percent in March. Jun Neri, lead economist at BPI, said the possibility of inflation breaching the five percent level in the coming months is still significant despite the recent inflation […]
Read MoreMANILA, Philippines — The Philippines’ tourism industry is poised to recover last in Asia as the country struggles to arrest coronavirus spread, likely dealing a huge blow on what was once a booming dollar source for the economy. Together with India, Malaysia and Indonesia, the Philippines is likely to be among the “laggards” in Asia’s […]
Read MoreMANILA, Philippines — Term deposit rates eased across the board anew as inflation slowed down in March amid the reimposition of enhanced community quarantine in the National Capital Region (NCR) and nearby provinces. The yield of the seven-day tenor slipped by 4.38 basis points to 1.7842 percent at the term deposit facility (TDF) auction by […]
Read MoreMANILA, Philippines — The slowdown in inflation last month is unlikely to be sustained as oil prices continue to go up even as food costs have eased, a global think tank said. In its latest data wrap, UK-based Pantheon Macroeconomics said it sees the lower March inflation as a temporary reprieve. Headline inflation, the rate […]
Read MoreMANILA, Philippines (UPDATE 2:22 p.m., April 8) — Trade was back on positive territory in February after imports snapped nearly 2 years of downtrend on the back of low base effects that hardly reflected a convincing rebound. What’s new Merchandise trade grew 0.6% year-on-year to $12.91 billion in February, the Philippine Statistics Authority reported Thursday. This was a […]
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