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(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.
SEOUL, South Korea (AFP) — North Korea saw its economy contract 3.5 percent last year – its worst showing in two decades – as it was hit by sanctions over its weapons programs, the South’s central bank said Friday. It was a sharp reversal from 3.9 percent growth in 2016, according to the Bank of Korea (BOK). The UN Security Council last year banned the North’s main exports — coal and other mineral resources, fisheries […]
BEIJING, China (AFP)–Chinese growth slowed slightly in the second quarter as the world’s number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 percent in April-June, down from 6.8 percent in the first quarter and in line with a 6.7 percent rate tipped in an AFP survey of economists. Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 percent set by […]
TOKYO, Japan (AFP) — Japan’s economy slid into negative territory for the first time in two years at the beginning of the year, official data showed Friday, confirming preliminary figures issued last month. The world’s third-largest economy contracted by 0.2 percent quarter-on-quarter in the January-March period, unchanged from the preliminary figure, the Cabinet Office said. The new data also revises upwards the figure for the last quarter of 2017, to 0.3 percent from 0.1. The […]
TOKYO, Japan (AFP) — Japan’s economy slid into negative territory for the first time in two years at the beginning of the year, official data showed Friday, confirming preliminary figures issued last month. The world’s third-largest economy contracted by 0.2 percent quarter-on-quarter in the January-March period, unchanged from the preliminary figure, the Cabinet Office said. The new data also revises upwards the figure for the last quarter of 2017, to 0.3 percent from 0.1. The contraction […]
MANILA, Philippines (AFP) — The Philippine economy was one of Asia’s best performers in the first quarter of 2018, data showed Thursday, but the strong growth has fuelled speculation the central bank will be forced to lift interest rates. The 6.8 percent expansion, which tied it with China and was only eclipsed by Vietnam, was boosted by a surge in government spending under President Rodrigo Duterte. Philippine growth, which was four percentage points higher than […]
(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 […]
MANILA, Philippines (AFP) — The Philippines on Monday was handed a credit rating upgrade from international agency Fitch which raised the nation’s sovereign rating by one level, citing continued investor confidence despite a deadly drug war. President Rodrigo Duterte has launched an unprecedented crackdown on drugs that has killed thousands and sparked widespread condemnation of alleged extrajudicial killings from rights groups and Western powers. The bloody campaign has also risked detering investors from one of […]
TOKYO, Japan (AFP) — Japan posted an economic growth of 0.6 percent in the three months to September from the previous quarter, according to new data published Friday that showed the world’s third-largest economy expanding twice as fast as previously estimated. Robust capital spending boosted the new quarterly figure sharply higher than the preliminary 0.3 percent and beat market expectations that growth would be revised up only slightly. The data confirmed the economy grew for the […]
SINGAPORE, Singapore (AFP) — Singapore’s economy beat expectations to grow at its fastest pace in nearly four years during the third quarter, data showed Thursday, boosted by a surge in global demand that has buoyed Asia in the face of brewing protectionist fears. The forecast-beating performance for the island-state follows similarly strong readings from the Philippines, Malaysia, Thailand, South Korea and Taiwan, all of which have benefited from a pick-up in world trade. The trade […]
TOKYO, Japan (AFP) — Japan notched up its seventh straight quarter of economic growth, official data showed on Wednesday, although the rate of expansion in the world’s third-biggest economy is slowing. Japanese gross domestic product (GDP) grew by 0.3 percent in the third quarter of the year, marking the longest string of gains for more than 16 years. However, the figure represented a slowdown from the second quarter, when the economy grew by 0.6 percent, as […]
The Philippine economy should continue to grow robustly in the short term despite threats, Moody’s Investors Service said. In a report, the credit ratings agency said the “re-emergence of conflict in the southern Philippines, as well as the Duterte administration’s focus on the eradication of illegal drugs,” are an “unlikely risk of a deterioration in economic performance and institutional strength” despite them being “rising” threats. According to Moody’s, sound economic and fiscal policies including a focus […]
