poll of 18 economists and analysts last week yielded a median gross domestic product growth estimate of 7.5% for the April-June period, easing from the 8.3% growth in theIf realized, the figure would put average growth at 7.9% in theOfficial second-quarter GDP data will be released on Aug. 9, alongside factory output and international merchandise trade statistics for the month of June.
Mr. Asuncion also noted manufacturing recovery continued in the second quarter, and that overseas Filipino workers’ remittances’ purchasing power remained intact. “Underlying our projection for a quarter-on-quarter contraction is a marked slowdown in the momentum in household spending, a significant pullback in government spending , and a much larger drag from net trade.”
Ms. Velasquez said the second-quarter figure may have received a boost from election spending, the return of business process outsourcing workers to offices and “very favorable” employment rates.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Analysts’ Q2 2022 GDP estimates - BusinessWorld OnlineTHE Philippine economy likely grew at a slower pace in the second quarter as surging inflation may have affected consumer spending. READ:
Source: bworldph - 🏆 9. / 68 Read more »
Cautious trading seen ahead of GDP, labor data - BusinessWorld OnlineSTOCKS may move sideways this week ahead of the release of latest Philippine gross domestic product (GDP) and labor data and expectations of an aggressive rate hike from the Bangko Sentral ng Pilipinas (BSP) next week after inflation hit another near four-year high in July.
Source: bworldph - 🏆 9. / 68 Read more »
Peso likely to weaken - BusinessWorld OnlineThe local currency opened Friday’s session at P55.48 against the dollar. Its weakest showing was at P55.50, while its intraday best was at P55.15 versus the greenback. READ:
Source: bworldph - 🏆 9. / 68 Read more »
MREIT earnings hit P677M on higher occupancy rates - BusinessWorld OnlineMEGAWORLD Corp.’s real estate investment trust, MREIT, Inc., registered a P677-million net income for the second quarter of the year due to higher occupancy rates. READ:
Source: bworldph - 🏆 9. / 68 Read more »
Headline inflation rates in the Philippines (July 2022) - BusinessWorld OnlineHeadline inflation quickened to its fastest pace in nearly four years in July, mainly due to soaring prices of food and higher transport costs. READ:
Source: bworldph - 🏆 9. / 68 Read more »
AboitizPower making headway in decarbonization journey with data and innovation - BusinessWorld OnlineAs the Aboitiz Group embarks on a Great Transformation towards becoming the first 'techglomerate' in the country by 2025, the company's power arm is making great strides in helping realize this ambition.AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said they are transforming their business through digitalization and innovation. At the same time, they are moving closer to their ambition of growing their Cleanergy portfolio. Cleanergy is AboitizPower’s brand for clean and renewable energy.
Source: bworldph - 🏆 9. / 68 Read more »