Philippine GDP Shrinks More Than Expected Amid Virus Fight
May 11 2021, 10:39 AM
May 11 2021, 8:40 AM
May 11 2021, 10:39 AM
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The Philippinesâ economy is struggling to gain momentum as elevated numbers of Covid cases hamper reopening efforts and destroy jobs.
Gross domestic product fell 4.2% in the first quarter from a year ago, the statistics authority said Tuesday, below all estimates in a Bloomberg survey of economists.
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China s trade surges as global stimulus keeps boom going
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Chinaâs exports rose more than expected in April, suggesting its trade out-performance could last longer than expected this year, fueled by global fiscal stimulus.
Exports grew 32.3 per cent in dollar terms in April from a year earlier, the customs administration said Friday, exceeding the 24.1 per cent median estimate in a Bloomberg survey of economists. Imports climbed 43.1 per cent, a sign of strong domestic demand and soaring commodity prices, resulting in a bigger-than-expected trade surplus of US$42.85 billion for the month.
Global appetite for Chinese goods remained strong in the month, thanks to stimulus packages introduced by developed economies thatâs helped to fuel demand for household goods, furniture and electronic devices. With vaccine rollouts accelerating and more economies opening up, Chinaâs export growth was widely expected to moderate this year as con
May 06 2021, 10:23 PM
May 06 2021, 4:50 PM
May 06 2021, 10:23 PM
(Bloomberg)
(Bloomberg)
The Bank of England slowed its emergency bond-buying and signaled itâs on course to end that crisis support later this year as a strong rebound takes hold across the economy with the removal of pandemic restrictions.
Officials, led by Governor Andrew Bailey, said the U.K. should recover its pre-coronavirus level of output one quarter earlier than previously forecast, as the countryâs rapid vaccination drive clears the way for a full reopening by June.
The reboundâs strength convinced outgoing Chief Economist Andy Haldane to cast a sole minority vote to cut the target for bond purchases.