MANILA, 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 […]
Read MoreMANILA, Philippines — The economic damage from the coronavirus pandemic last year was greater than originally reported, state statisticians said Thursday. Gross domestic product (GDP), the sum of all products and services created in an economy, actually shrank at 9.6% on-year for the entire 2020, slightly worse than the 9.5% initially reported last January. The […]
Read MoreMANILA, Philippines — Retail prices of consumer goods in Metro Manila rose at a faster pace in February, the Philippine Statistics Authority (PSA) said. In a report, the PSA said the General Retail Price Index (GRPI) in the National Capital Region (NCR) in February grew at 1.4 percent, faster than the 1.3 percent rate in […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) has raised its 2021 economic growth forecast for the Philippines to 6.9 percent from the original target of 6.6 percent, the fastest among members of the Association of Southeast Asian Nations (ASEAN). Yongzheng Yang, resident representative to the Philippines of IMF, said the latest gross domestic product […]
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