Philippines Economic Outlook
May 22, 2018Economic growth shifted into a higher gear in the first quarter of the year, largely reflecting the impact of the government’s vast infrastructure spending program: Fixed investment and public consumption grew robustly, and imports surged. Meanwhile, private consumption growth decelerated due to rising inflation and dwindling remittance inflows throughout the quarter. Higher inflation and buoyant economic activity have sparked fears that the economy may overheat, as recent reports signal that manufacturing capacity in major industries were producing at or near full capacity. Despite this risk, S&P Global Ratings revised the country’s outlook from stable to positive and upheld its BBB rating on 26 April. The credit rating agency praised the limited level of indebtedness and notable improvements made in tax collection, which has enabled the government to push through a vast public spending program without compromising fiscal health.
Philippines Economic GrowthThe economy is expected to grow at a robust pace this year and next on the back of a buoyant expansion in fixed investment, which is benefiting from strong public spending and favorable credit conditions at home. Prospects of an overheating economy and capital outflows due to faster monetary tightening by the U.S. Federal Reserve could, however, weigh on growth. Met the why particular panelists see GDP growth of 6.6% in 2018, unchanged from last month’s forecast, and 6.6% again in 2019.
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||6.87||-4.11 %||May 21|
|Exchange Rate||52.35||0.02 %||May 21|
|Stock Market||7,658||0.66 %||May 21|
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Philippines Economic News
May 15, 2018
In March, cash remittances from Overseas Filipino Workers (OFW) reached USD 2.4 billion, a steep 9.8% contraction from the same month of the previous year.
May 11, 2018
Philippine exports contracted 8.2% in annual terms in March, coming in below February’s 5.5% drop.
May 7, 2018
In April, consumer prices rose 0.5% compared to the previous month, matching the 0.5% month-on-month rise recorded in March.
May 2, 2018
The manufacturing Purchasing Managers’ Index (PMI) rose to 52.7 in April, up from 51.5 in March, according to a release provided by Nikkei and IHS Markit.
April 20, 2018
In February, cash remittances from Overseas Filipino Workers (OFW) reached USD 2.3 billion, a 4.5% increase from the same month of the previous year.