MANILA, Philippines — Philippine manufacturing output picked up in October from the previous month with 14 industry divisions registering increases, according to the Philippine Statistics Authority (PSA). Preliminary results of the Monthly Integrated Survey of Selected Industries released by the PSA yesterday showed manufacturing output, as measured by the Volume of Production Index (VoPI), registered […]
Read MoreMANILA, Philippines — The government is strongly pushing for the creation of the Maharlika Wealth Fund as it faces constraints to finance new projects, especially after the country’s outstanding debt jumped to a new record high P13.64 trillion in October. Based on the Bureau of the Treasury (BTr) data, the government increased the debt stock […]
Read MoreFastest in 14 years MANILA, Philippines — Inflation rose to a 14 year-high in November largely due to faster food price upticks, the Philippine Statistics Authority (PSA) reported yesterday. In a briefing, deputy national statistician Divina Gracia del Prado said headline inflation – the rate of increase in prices of consumer goods and services – […]
Read MoreMANILA, Philippines — The proportion of Filipinos either unemployed or out of business continued to drop in October, but the jobs being generated are low quality and do not pay enough amid rising cost of living. A nationwide survey of 43,641 households showed there were 2.60 million jobless Filipinos in October, translating to an unemployment […]
Read MoreMANILA, Philippines — The country’s economic managers expect to further reduce the share of the budget deficit to national output this year on the back of above-target revenue performance as the economy reopens. The Cabinet-level Development Budget Coordination Committee (DBCC) said it is looking at the fiscal deficit, when measured against gross domestic product (GDP), […]
Read MoreMANILA, Philippines — The World Bank raised its gross domestic product (GDP) growth forecast for the Philippines this year after a stronger-than-expected performance in the third quarter, but cautioned that growth would slow next year, citing unfavorable developments in the global environment that could affect the domestic economy. In its Philippines Economic Update report, the […]
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