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1st quarter GDP drop faster than initially reported

THE PHILIPPINE ECONOMY in the first quarter declined at a faster pace than previously reported, the Philippine Statistics Authority (PSA) said a day before it announces preliminary figures for the second quarter.

Q2 GDP contraction seen deeper

THE PHILIPPINE ECONOMY is widely expected to have declined much faster in the second quarter compared with the previous quarter, according to economists.

Gov’t debt at 34.1% of GDP in 2019 vs year-earlier 34.4%

GENERAL GOVERNMENT (GG) debt as a share of the economy fell to 34.1% in 2019 from 34.4% a year earlier, the Department of Finance (DoF) said, providing a baseline for economic conditions before borrowing swelled due to the pandemic.

Gradual recovery seen to begin this month

ECONOMIC managers are hopeful the Philippines will begin its gradual recovery this month, as lockdown restrictions continue to be eased around the country.

Remittance drop seen to dent GDP by 0.4%

A POSSIBLE contraction in remittance inflows from overseas Filipino workers (OFWs) due to the pandemic this year could further bring down gross domestic product (GDP) by 0.4%, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.

AMRO slashes GDP growth forecast for PHL

THE ASEAN+3 Macroeconomic Research Office (AMRO) on Friday slashed its 2020 gross domestic product (GDP) growth forecast for the Philippines to 0.2%, warning that containing the virus should be the country's top priority as second wave of infections could lead to bigger toll on the economy.

Business group eyes GDP growth of as much as 7.5%

A BUSINESS chamber said the economy would probably grow by as much as 7.5% this year, thanks to continuing reforms, increased infrastructure spending and a benign inflation environment.

Education reform and the Philippine economy

As “Asia’s Rising Tiger,” the Philippines has gained a reputation for rapid economic growth that has stayed on course no matter the circumstances. Despite...

Fitch affirms Philippine debt grade but slashes growth forecast further

GLOBAL DEBT WATCHER Fitch Ratings, Inc. on Thursday affirmed the Philippines’ long-term foreign-currency issuer default rating at “BBB” — still a notch above minimum investment grade — with a “stable” outlook, meaning the rating is likely to be sustained in up to two years, but further slashed its gross domestic product (GDP) projection for the country.

Moody’s cuts 2019 PHL GDP forecast to 6%

MOODY’s Investors Service cut its Philippine economic growth forecast to 6% for this year from its previous projection of 6.2% due to the delayed approval of the 2019 General Appropriations Act (GAA), which dampened gross domestic product (GDP) growth in the first quarter.

WB pushes 4.5% of GDP infrastructure spending

DEVELOPING COUNTRIES like the Philippines should invest more to improve living conditions and contribute to global efforts against climate change, the World Bank said.

Fitch Solutions says Philippines to ‘struggle to reverse its weakening growth...

ECONOMIC GROWTH will likely ease further this year in the face of heightened global trade tensions and “deteriorating” business conditions, Fitch Solutions Macro Research said following the release of disappointing official 2018 data.

Economy expands 6.1% in fourth quarter, 6.2% in 2018

THE Philippine economy posted a 6.1% gross domestic product (GDP) growth in the fourth quarter of 2018, the Philippine Statistics Authority (PSA) reported this morning.

From the Front Page: PHL to outpace China’s GDP growth

Your weekly recap of BusinessWorld news.

Fitch cuts Philippine growth forecast

FITCH Solutions has downgraded its growth forecast for the Philippines anew, noting that the economy is unlikely to bounce back to a faster pace due to tighter credit conditions and waning investor appetite.

Statistics body: GDP rebasing to wait

THE PHILIPPINE STATISTICS AUTHORITY (PSA) will hold off till 2020 the use of a new baseline for measuring economic growth.

GDP growth to miss goal, but not ‘bad’

PHILIPPINE economic growth will likely fall short of the government’s 7-8% target until next year, due to a sustained slowdown in exports and weak manufacturing, even as strong capital formation should help gross domestic product (GDP) expand in line with potentials, economists of the Ateneo de Manila University said in a briefing on Thursday.

PHL economy likely slowed in Q2 — Moody’s

PHILIPPINE economic growth may have decelerated in the second quarter weighed down by rising inflation despite robust consumption and investment, Moody’s Analytics said.

ADB maintains growth forecast for Philippines

THE ASIAN Development Bank (ADB) retained its 6.8% and 6.9% gross domestic product (GDP) forecasts for the Philippines for 2018 and 2019, respectively, in...

Tourism share of GDP hits 18-year high in 2017

THE TOURISM industry’s contribution to the economy was the highest in 18 years in 2017, the Philippine Statistics Authority (PSA) said.

Monetary Board sees inflation momentum slowing — minutes

INFLATION momentum has been easing as price spikes due to tax reform have decelerated, the central bank said as it decided to raise rates last month in order to temper future price increases.

Tourism contribution to GDP highest in 18 years

Tourism’s contribution to the Philippine economy, as measured by the share of tourism direct gross value added (TDGVA), was highest in 18 years, the...

WB cites PHL growth promise, risks

THE WORLD BANK sees the Philippines sustaining relatively robust growth in the medium term -- though short of government target -- but flagged capacity constraints and price pressures that may weigh on prospects.

Wages watched for price impact

AN UNEXPECTED increase in minimum wages could prompt the Bangko Sentral ng Pilipinas (BSP) to raise rates anew, a global bank said, even as inflation is expected to ease over the coming months.

Q2 GDP growth likely on target — Budget chief

ECONOMIC growth likely picked up this quarter to fall within the 7-8% official full-year 2018 target, the Budget chief said on Tuesday, as the Philippine Statistics Authority (PSA) reported that factory output began those three months with its biggest improvement in eight years.

BSP readies regular poll on bankers’ outlooks

THE BANGKO SENTRAL ng Pilipinas (BSP) will conduct a regular poll to get bank executives’ outlook on economic growth and business prospects.

Global economy to grow faster than expected in 2018-19 at 3.2%:...

United Nations -- The global economy is set to expand faster than expected in 2018 and 2019, the United Nations said Thursday, predicting a...

BPO sector: An economic pillar

The Department of Trade and Industry (DTI) defines business process outsourcing (BPO) as the “delegation of service-type business processes to a third-party service provider.”...

First-quarter tax collections hit fresh record high

The government's tax effort saw a substantial improvement relative to the Philippine economy in the first quarter, with collections hitting a fresh record high,...

BSP raises rates on elevated inflation and robust economic growth

The Bangko Sentral ng Pilipinas (BSP) raised rates on Thursday, May 10, marking the first tightening move in nearly four years at a time of...

Economy expands at 6.8% in the first quarter

The Philippine economy grew 6.8% in the first quarter of 2018, the Philippines Statistics Authority (PSA) reported this morning. The January-March gross domestic product (GDP)...

Economic growth picks up in Q1 — poll

By Carmina Angelica V. Olano ECONOMISTS expect economic growth to pick up pace in the first quarter on the back of higher household and consumer...

S&P upgrades Philippines’ credit outlook to ‘positive’

By Melissa Luz T. Lopez, Senior Reporter S&P Global Ratings bumped up its outlook on the Philippine economy, as it took stock of tax reform...

S&P hikes 2018 growth forecast for PHL to 6.7%

S&P Global Ratings has bumped up its growth forecast for the Philippines inspired by bets that consumption will pick up further this year, enough...

Boracay temporary closure to cost PHL economy nearly P2 billion —...

THE CLOSURE and rehabilitation of Boracay is seen to cost the economy some P1.96 billion in six months, the National Economic and Development Authority...

ADB maintains bullish outlook for Philippines

THE ASIAN Development Bank (ADB) sees the Philippines sustaining its upward economic growth trajectory on the back of the government’s push for large-scale infrastructure...

Inflation tops 4%, hits a fresh peak in March

Consumer prices in March picked up further to its fastest pace in more than five years on account of increased prices in food and...

Moody’s says overheating farfetched; FMIC, UA&P see Q1 growth past 7%

By Melissa Luz T. Lopez Senior Reporter THE PHILIPPINE ECONOMY is far from overheating, with growth poised to clock faster even as inflation quickens further, according...

State of the Philippine real estate

The country’s economic boom shows no signs of slowing down. Considered as one of the fastest-growing economies in the region, it exhibited an increase...

Economy on track to grow by at least 7% this year

By Melissa Luz T. Lopez, Senior Reporter DAVAO CITY — The Philippines is on track to achieve at least seven percent growth this year, with...

Growth amidst volatility

BusinessWorld hosts Stock Market Roundtable 2018 By Bjorn Biel M. Beltran, Special Features Writer The Philippine economy is undergoing great changes. The Duterte administration has begun to...

BMI flags rising risks in Philippine infrastructure

THE Philippines’ infrastructure sector faces rising risks from implementation hurdles and political concerns, BMI Research said in a Jan. 24 note. The Fitch Group unit...

Economic expansion to ease — BMI

PHILIPPINE economic growth is expected to moderate until next year -- due largely to base effects from 2016’s election-related boost and a “deterioration of...

Spending challenges flagged amid GDP growth

STANDARD CHARTERED Bank sees “steady” Philippine economic growth in 2018 on the back of an infrastructure development push, even as it expects state spending...

2017 growth ‘strong’ despite slowdown

By Christine Joyce S. Castañeda Senior Researcher THE PHILIPPINE ECONOMY expanded last quarter at a pace slightly slower than expected even as full-year growth fell within...