Philippines Economic Outlook
November 14, 2017The economy continues to grow briskly, benefiting from robust domestic and external demand. Despite an acceleration in inflation, household spending remains strong, supported by rising remittances and rapid credit expansion, which posted another month of growth above 20% in September. Meanwhile, upbeat business sentiment and the ramp up of public infrastructure spending buttressed fixed investment, increasing the country’s productive capacity. The PMI jumped in October—an encouraging sign for the manufacturing sector in Q4—on considerably faster growth in both output and new orders, leaving behind a weak Q3. On the external front, exports posted another month of solid growth in September, while imports were also on the rise partly due to the government capital spending plan. On the downside, the country experienced FDI outflows in the first nine months of the year, due to rising interest rates in the U.S. Furthermore, some overheating could emerge if credit growth accelerates further.
Philippines Economic GrowthGrowth should remain robust next year. Tighter labor market conditions coupled with growing remittances will drive private consumption, while favorable financing conditions and public-private partnerships are expected to buttress fixed investment. Possible downsides stem from a slowdown in China and from further capital outflows to developed countries. The Met the why particular panel sees GDP growth of 6.4% in 2018, unchanged from last month’s forecast, and also 6.4% in 2019.
Philippines Economy Data
5 years of Philippines economic forecasts for more than 30 economic indicators.
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|Bond Yield||5.70||-4.11 %||Dec 06|
|Exchange Rate||50.72||0.02 %||Dec 06|
|Stock Market||8,130||0.66 %||Dec 06|
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Philippines Economic News
December 5, 2017
In October, consumer prices rose 0.5% compared to the previous month, up from October’s 0.3% increase.
December 1, 2017
The manufacturing Purchasing Managers’ Index (PMI) rose for the third consecutive month, and came in at a nearly one-year high of 54.8 in November, up from 53.7 in October according to a release provided by Nikkei and IHS Markit.
November 16, 2017
The Philippine economy recorded another period of robust growth in Q3, supported by strong government consumption and benefiting from solid external demand.
November 15, 2017
In September, cash remittances from Overseas Filipino Workers (OFW) reached USD 2.2 billion, an 8.3% decrease from the same month of the previous year.
November 11, 2017
Philippine exports continued to expand in September, 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 once again remained virtually unchanged.