The Philippine economy may have slowed in the fourth quarter of 2022, but still likely hit the upper end of the government’s full-year growth target, according to analysts. READ:
People walk past stalls selling Christmas lanterns in San Fernando, Pampanga, Nov. 7. Philippine economic growth likely slowed in the fourth quarter, but hit the upper end of the full-year target in 2022, according to a BusinessWorld poll. — PHILIPPINE STARMIGUEL DE GUZMANmay have slowed in the fourth quarter of 2022, but still likely hit the upper end of the government’s full-year growth target, according to analysts.
It would also mark the second straight year of growth after the record 9.5% contraction in 2020 due to the pandemic. “We think the sequential momentum has decelerated as the initial reopening boost fades, while the deteriorating external outlook weighed on foreign demand as well as business and consumer sentiment,” Mr. Tsuchiya said in an e-mail.
S&P Global Philippines’ PMI data showed factory output in the country expanded to 53.1 in December from 52.7 in November, suggesting a solid improvement in the health of the Filipino manufacturing sector. Emilio S. Neri, Jr., lead economist of Bank of the Philippine Islands , said the national elections and the government’s COVID-19 vaccination drive allowed the economy to reopen, but investor and consumer confidence was dampened by the Russia-Ukraine war.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PH 2022 GDP growth seen overshooting gov’t target at 7.7%The growth of the Philippine economy may have surpassed the government’s target at 7.7 percent, thanks mainly to brisk consumer spending as households reclaimed their lifestyles before the onset of
Read more »
A fifth of new cars in California zero-emission in 2022: dataOne-in-five new cars sold in California in 2022 was a zero-emission vehicle, the state said Friday, as the largest car market in the United States charges towards its goal of electrifying its fleet.
Read more »
The perennial problem of hungerIn 2022, 12 percent of Filipino families experienced hunger at least once in the previous three months (“Fourth Quarter 2022 Social Weather Survey: Hunger moves from 11.3% to 11.8%,”
Read more »
MB okays $2-B Q4 foreign borrowingCOVERING October to December 2022, the Monetary Board (MB) on Friday approved one public sector foreign borrowing of $2 billion for the fourth quarter of 2022, according to the Bangko Sentral ng Pilipinas (BSP).
Read more »
P-pop girl group KAIA shares their favorite memories of 2022 | ATM Online ExclusiveThe previous year was definitely a great year for the P-Pop girl group KAIA, and we can't wait for the things they can offer in 2023! Make sure to subscribe to ATM Adventure.Taste.Moments channel, so you won't miss the release of our exclusive content with the group!
Read more »
INQtertainment Round-up: Alex Gonzaga and the Miss Universe 2022 pageantSome of the biggest names in the entertainment industry took over the headlines for an icing-smearing controversy, a comeback of a noontime show mainstay, and the loss and victory at the Miss Universe 2022 pageant. | HMallorcaINQ
Read more »