Due to soaring prices MANILA, Philippines — The growth in consumer spending in the Philippines may slow down to 5.5 percent next year from the expected 7.6 percent expansion this year, according to Fitch Solutions Country & Industry Research. In a report, Fitch Solutions said that household spending may remain positive, with an average growth […]
Read MoreMANILA, Philippines — The Philippine stock market ended lower yesterday as investors cashed in ahead of the release of the country’s economic growth data. The Philippine Stock Exchange Composite index (PSEi) finished at 6,241.68, down 47.42 points or 0.75 percent. The government will announce its third quarter gross domestic product reading today. It is widely […]
Read MoreMANILA, Philippines — Economic growth in the second quarter was revised higher by the Philippine Statistics Authority as construction and real estate activities proved stronger than initially reported. State statisticians said in a statement on Wednesday that the gross domestic product in the April-June period now stood at 7.5%, slightly higher than the previous 7.4%. […]
Read MoreMANILA, Philippines — The country’s factory output grew at a slower pace in September from the previous month and year amid sustained high inflation. 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), posted an annual growth […]
Read MoreMANILA, Philippines — The bad debts of Philippine banks continued to fall, resulting in the further easing of the industry’s non-performing loan (NPL) ratio for seven straight months, to hit the lowest level in more than two years despite the series of rate hikes to tame inflation and stabilize the peso, the Bangko Sentral ng Pilipinas […]
Read MoreMANILA, Philippines — Local factories crumbled under the weight of inflation in September as production slowed down amid rising input prices. Results of the Philippine Statistics Authority’s monthly survey of selected industries revealed the volume of production index (VoPI), a measure of manufacturing output, rose 2.4% year-on-year in September, lower compared to the 4.4% expansion recorded […]
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