MANILA, Philippines — Philippine factory output posted its weakest expansion in 11 months in July, indicating a loss in growth momentum as boiling inflation hit demand for locally-produced goods. A survey of around 400 manufacturers in the country found that the Philippines’ Purchasing Managers’ Index (PMI), a gauge of manufacturing output, fell to 50.8 in July […]
Read MoreMANILA, Philippines — Ayala-led Bank of the Philippine Islands said Monday its balance sheet is strong enough to weather the impact of the Bangko Sentral ng Pilipinas’ rate hikes, although the company said it remains worried about red-hot inflation. At a press conference, top officials of the 171-year-old bank said they do not expect consumer […]
Read MoreMANILA, Philippines — Economists are at odds over the inflation figures for July, with some expecting further pickup and others seeing a slowdown in the pace of consumer price growth. Alvin Arogo, economist at Philippine National Bank, said inflation likely accelerated further to 6.7 percent in July after quickening to 6.1 percent in June from […]
Read MoreMANILA, Philippines — The economy likely sustained the strong economic rebound in the second quarter with a gross domestic product expansion of between eight and nine percent after a stronger-than-expected GDP growth of 8.3 percent in the first quarter, according to Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla. “Probably eight or nine percent,’’ he […]
Read MoreMANILA, Philippines — The government slashed its borrowings in the first semester to just a little over P1 trillion as the economy continues to recover from the pandemic. Latest data from the Bureau of the Treasury showed total borrowings from January to June dipped by 45 percent to P1.07 trillion from P1.93 trillion in 2021. […]
Read MoreMANILA, Philippines — Retail prices of building materials in the National Capital Region (NCR) continued to pick up in May, posting the fastest annual growth rate in more than 13 years, according to the Philippine Statistics Authority (PSA). Data from the PSA showed the Construction Materials Retail Price Index (CMRPI) in NCR went up by […]
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