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(Eagle News) — Because of the slowdown in the global economy and Philippine domestic investment, Asian Development Bank (ADB) has revised the country’s economic growth this year to 6 percent, down from the previous forecast of 6.4 percent. In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2019, ADB revised its forecast for Philippine gross domestic product (GDP) growth to 6.0% in 2019 and 6.2% in 2020, against its previous […]
TOKYO, Japan (AFP) — Japan’s economy shrank in the three months to September, official data showed Wednesday, after a string of natural disasters hit consumer spending and exports, and China’s slowing economy cast a shadow. Gross domestic product for the July-September period contracted 0.3 percent from the previous quarter, reversing growth of 0.8 percent in the April-June period, according to the government’s Cabinet Office. A number of natural disasters dampened personal consumption, company investment and […]
by Ryan MCMORROW Agence France Presse BEIJING, China (AFP) — China’s economy grew at its slowest pace in nine years in the third quarter, as a campaign to tackle mounting debt and trade frictions with the US had an effect. The world’s second largest economy expanded by 6.5 percent in the July-to-September period year-on-year, according to official GDP figures released Friday by China’s National Bureau of Statistics. The rate is down from 6.8 percent and […]
by Shingo Ito Agence France-Presse TOKYO, Japan (AFP) – Japan bounced back to growth following its first contraction in two years, official figures showed Friday, but fears of US trade wars clouded the outlook for the world’s third-largest economy. The economy grew 0.5 percent quarter-on-quarter in the April-June period, compared with a 0.2-percent decline in January-March, according to data from the Cabinet Office. The growth figure — annualised at 1.9 percent — was better than […]
(Eagle News)–Philippine economic growth slowed down to 6 percent in the second quarter, the government reported on Thursday, Aug. 9. In the same quarter last year, Philippine economy grew by 6.7 percent. According to the PSA, the services sector grew by 6.8 percent. This was followed by industry, at 6.3 percent; and agriculture at 0.2 percent.
(Eagle News) — Umaasa ang gobyerno na lalago ng 7 (%) percent ang ekonomiya ng bansa sa second quarter ng taon. Ayon kay Socioeconomic Planning Secretary Ernesto Pernia, ito ay dahil sa mas mataas na nagastos ng gobyerno sa capital equipment at sa ‘Build, Build, Build’ program’. Sa datos ng Department of Budget and Management (DBM), makikita na tumaas ng 26 % o nasa 58.1 billion pesos ang nagastos ng gobyerno sa proyektong imprastraktura noong […]
TOKYO, Japan (AFP) — Japan’s economy shrank for the first time in two years in the first quarter of the year amid weak consumption, official data showed Wednesday. The world’s third-largest economy contracted by 0.2 percent quarter-on-quarter in the January-March period, compared with growth of 0.1 percent at the end of 2017, the Cabinet Office said. Private consumption was flat after an uptick of 0.2 percent in the final quarter of last year. Private […]
TOKYO, Japan (AFP) — Japan’s economy grew for the eighth straight quarter at the end of 2017, government data showed Wednesday, its longest period of expansion since the “bubble” boom days of the late 1980s. Gross domestic product figures fell short of expectations and represented a slowdown from the previous quarter, but analysts forecast continued growth nonetheless. GDP expanded just 0.1 percent in the last quarter of 2017, the Cabinet Office said, a far cry from the […]
(Eagle News) — National Economic and Development Authority (NEDA) Director General and Socioeconomic Planning Secretary Ernesto Pernia said on Tuesday that the Philippines was again one of the fastest-growing economies in Asia, only after China and Vietnam. Pernia made the announcement after the Philippine Statistics Office announced the Philippine economy hit a 6.6-percent growth rate in the last quarter of 2017. The PSA said this brought the overall growth of the country’s economy in 2017 to […]
(Eagle News) — The Philippine economy posted a growth of 6.6 percent in the fourth quarter of 2017, the Philippine Statistics Authority reported on Tuesday. In a press conference, National Statistician Lisa Grace S. Bersales said that the gross domestic product was driven primarily by the industry sector, which posted a growth of 7.3 percent in October to December. With the 6.6 percent growth in the fourth quarter of last year, the Philippine economy posted a […]
(Eagle News) — The Philippines will continue to be the “fastest-growing economy” in the Association of Southeast Asian Nations in the next three years. This is according to the World Bank’s January 2018 Global Economic Prospects report released on Wednesday. According to the WB, the country’s Gross Domestic Product was expected to grow 6.7 percent in 2018 and 2019. In 2020, the growth rate is expected to be 6.5 percent. The WB said the forecast […]
(Eagle News) — The International Monetary Fund’s outlook for the Philippine economy remains “favorable despite external headwinds.” In a statement, the IMF predicted the country’s Gross Domestic Product growth at 6.6 percent for 2017 and 6.7 percent for 2018. It said this was “owing to continued robust domestic demand.” “Inflation is expected to stay near the center of the (Bangko Sentral ng Pilpinas’) target band due to stable commodity prices and well-anchored inflation expectations. The current […]
