MANILA, Philippines — Economists expect bank lending to remain in the red in the coming months amid lack of demand from borrowers and banks turning risk-averse due to uncertainties brought about by the COVID-19 pandemic. ING Bank senior economist Nicholas Mapa said loans disbursed by big banks may continue to drop as demand for credit […]
Read MoreMANILA, Philippines — Local factories are humming again in June following two consecutive months of output slump, although the recovery was only “marginal” as existing pandemic lockdowns continue to be a big hurdle for manufacturers. A monthly survey of around 400 companies showed the Philippines’ Purchasing Managers’ Index (PMI), a measure of factory output, rose […]
Read MoreMANILA, Philippines — Inflation likely eased to 4.3 percent in June after a three-month stay at 4.5 percent amid the decline in food prices as supply side shocks have been addressed, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno expects inflation to settle at 4.3 percent in June. “Higher prices of domestic […]
Read MoreMANILA, Philippines — The proportion of Filipinos who were either jobless or out of business dropped in May, as a rollback of pandemic restrictions allowed some people to get their jobs back and secure longer working hours. There were 3.73 million Filipinos who were unemployed in May, the Philippine Statistics Authority reported Thursday. That count translates to […]
Read MoreMANILA, Philippines — The country’s mining industry maintained its contribution to gross domestic product (GDP) of 0.5 percent in the first quarter despite a decline in value, data from the Mines and Geosciences Bureau (MGB) showed. Based on the latest figures from the MGB, the gross value added in mining amounted to P22.5 billion during […]
Read MoreMANILA, Philippines — Higher power costs and a slightly weaker currency likely stoked faster consumer price growth in June, although the spike was likely cushioned by more affordable food items. In a statement on Wednesday, the Bangko Sentral ng Pilipinas said it expects inflation to settle between 3.9% and 4.7% this month. If the upper-end […]
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