Philippines Economic Outlook
November 13, 2018Economic growth slowed to a three-year low in the third quarter, but grew at a healthy pace nonetheless. A slowdown in private consumption reflected households’ loss in discretionary income caused by near-decade high inflation throughout the quarter and a contraction in remittance inflows growth in August. The government’s massive infrastructure overhaul continued to power robust government spending and fixed investment growth, which grew at double-digit rates in Q3. On the downside, the investment program is putting pressure on the external economy as imports skyrocketed in Q3, outpacing exports for the third consecutive quarter. Moving into Q4, business conditions improved in the manufacturing sector in October. Meanwhile, in other news, the country failed to receive bids from Thailand and Vietnam for a 203,000-ton import tender of rice in early November. As the world’s top importer of the grain, possible tighter supply could stoke inflationary pressures.
Philippines Economic GrowthThe economy is projected to continue growing at a brisk pace over the medium-term. Domestic demand should remain the key driver of growth, propelled by sizeable infrastructure spending and a tighter labor market. Nonetheless, a weaker external position and negative spillovers from a protracted U.S.-China trade dispute could cast a shadow over growth prospects. Met the why particular panelists see GDP growth of 6.4% in 2019, which is down 0.1 percentage points from last month’s forecast, and 6.3% in 2020.
Philippines Economy Data
5 years of Philippines economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||7.12||-4.11 %||Dec 11|
|Exchange Rate||52.86||0.02 %||Dec 11|
|Stock Market||7,348||0.66 %||Dec 11|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Philippines Economic News
Philippines: Flooding imports for infrastructure program pushes merchandise trade deficit to widest on record in October
December 11, 2018
Merchandise export growth expanded 3.3% in annual terms in October, following the revised 0.8% expansion logged in September (previously reported: -2.6% year-on-year).
Philippines: Average inflation inches higher in November, while lower headline inflation signals easing price pressures going forward
December 5, 2018
Consumer prices fell 0.2% over the prior month in November, contrasting the 0.3% increase logged in October.
December 3, 2018
According to data released by Nikkei and IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) edged up to 54.2 points in November from 54.0 points in October, climbing further above the critical 50-point threshold that separates expansion from contraction in the manufacturing sector. Business conditions continued improving in November, largely thanks to a sharp acceleration in output growth, which rose at the fastest rate in nearly two years, and a strong uptick in new orders.
November 15, 2018
Cash remittances from Overseas Filipino Workers (OFW) increased USD 2.2 billion in September, rising 2.3% over the same month last year (August: -0.9% year-on-year).
Philippines: Central Bank continues aggressive monetary tightening in November as inflation remains at a nine-year high
November 15, 2018
The Monetary Board of the Central Bank of the Philippines (BSP) raised the overnight reverse repurchase facility (RRP) at its 15 November meeting by 25 basis points to 4.75%.