Philippines Economic Outlook
September 19, 2017The pace of expansion in economic activity has likely moderated in the third quarter, but remains robust overall. Household spending, the main engine of growth, continues to expand even as consumers have grown more cautious in Q3 due to rising fuel and electricity prices, as well as ongoing unrest in Marawi City. Signs of softening demand were also reflected in August’s PMI reading, which hit its lowest level since the survey started on the back of a significant slowdown in order book growth. On the bright side, July export data shows that the weakening of the peso has benefited exporters, and loan demand remains robust. Moreover, the government is actively trying to support growth by boosting infrastructure expenditure, which jumped by 25% in annual terms in July after expanding at a lower-than-budgeted pace in H1.
Philippines Economy Data
5 years of Philippines economic forecasts for more than 30 economic indicators.
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|Bond Yield||4.63||-0.24 %||Oct 13|
|Exchange Rate||51.15||-0.65 %||Oct 13|
|Stock Market||8,448||0.54 %||Oct 13|
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Philippines Economic Growth
September 19, 2017Despite decelerating from last year, the economy will continue to grow at a robust pace this year and next, as consumer spending is underpinned by a tighter labor market and growing remittances. Meanwhile, fixed investment is expected to benefit from a supportive banking sector, upbeat business confidence and solid public infrastructure spending. Nevertheless, weakening external demand, especially from China, and the prolongation of the conflict with Islamist groups could restrain growth. The Met the why particular panel sees GDP growth of 6.4% in both 2017 and 2018, unchanged from last month’s forecast.
Philippines Economic News
October 16, 2017
In August, cash remittances from Overseas Filipino Workers (OFW) reached USD 2.5 billion, a 7.8% increase from the same month of the previous year.
October 11, 2017
Philippine exports continued to expand robustly in August, mainly on the back of stronger demand from Hong Kong and the United States, more than offsetting weaker demand from Japan and Singapore; exports to China remained virtually unchanged.
October 6, 2017
In September, consumer prices rose 0.5% compared to the previous month, up from August’s 0.3% increase.
October 2, 2017
The manufacturing Purchasing Managers’ Index (PMI) increased marginally from a record-low 50.6 in August to 50.8 in September according to a release provided by Nikkei and IHS Markit.
Philippines: Central Bank keeps rates steady and maintains unchanged inflation forecasts at September meeting
September 21, 2017
At its meeting on 21 September, the Central Bank decided to leave the Overnight Reverse Repurchase Facility (RRP) rate unchanged at 3.0%.