MANILA, Philippines — The net inflow of foreign direct investments (FDIs) contracted by nearly 26 percent to $2.38 billion in the first five months from $3.19 billion in the same period last year despite the strong recovery in May, according to the Bangko Sentral ng Pilipinas. The BSP attributed the lower inflow to the grim […]
Read MoreMANILA, Philippines — Factory gate prices declined at a slower pace in July as five industry groups registered growth in selling prices, the Philippine Statistics Authority (PSA) said. The Producers Price Index covering the manufacturing sector registered a 3.3 percent contraction in July – slower compared to the 3.9 percent drop in June. This, however, […]
Read MoreMANILA, Philippines — Term deposit yields rose across the board as cash-rich banks continued to park their excess funds in the liquidity absorption facility of the Bangko Sentral ng Pilipinas (BSP). BSP Deputy Governor Francisco Dakila Jr. said tenders at yesterday’s term deposit auction facility reached P502.1 billion, higher than the increased volume offering of […]
Read MoreMANILA, Philippines (UPDATE 2 1:34 p.m., Sept. 3) — The number of jobless Filipinos went down nationwide in July after lockdown measures were eased, but a disproportionate rise in unemployment in the key economic center of Metro Manila disrupted what could have been a broad recovery. A tenth of people in the labor force did not have a job […]
Read MoreMANILA, Philippines — Lackluster trade activity continued to push down revenues raised by the Bureau of Customs, but collections were so far enough to beat targets already tempered by government. In a statement on Wednesday, Customs reported to have raised P44.6 billion last month, beating the P33.7-billion goal by 32.5%, and marking the third straight […]
Read MoreMANILA, Philippines — Manufacturing conditions in the country deteriorated further in August as the reimposition of a strict two-week lockdown stalled factory operations. The headline IHS Markit Philippines Manufacturing Purchasing Managers’ Index (PMI) fell anew to 47.3 in August from 48.4 in July. This reading, however, was still above the record low PMI of 31.6 […]
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