THE NUMBER of jobless Filipinos declined to 3.073 million in July, but job quality remains a concern as more employed Filipinos are still seeking additional work, the Philippine Statistics Authority (PSA) reported on Tuesday.
THE OVERALL year-on-year increase in prices of widely used goods accelerated to its fastest pace in 32 months in August, driven by higher food and utility prices amid the stricter lockdown, the statistics agency said on Tuesday.
INFLATION likely quickened in August and settled above the central bank’s official target range anew, as a weaker peso pushed food prices up, according to analysts.
MANUFACTURING ACTIVITY sharply declined to a 15-month low in August as a fresh surge in coronavirus disease 2019 (COVID-19) infections led to another strict lockdown in the Philippine capital.
THE IMPACT of the ongoing coronavirus pandemic continued to weigh on banks in the second quarter as assets grew at a slower pace and bad loans piled up.
The coronavirus pandemic has led governments to increase spending to support economic growth, as well as vulnerable groups through fiscal stimulus packages and the easing of monetary policy to buoy domestic demand.