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Philippines remains in recession as GDP shrinks 4.2% in Q1 BusinessWorld 3 days ago © Provided by BusinessWorld The Philippines’ gross domestic product (GDP) fell by an annual 4.2% in the first quarter. — PHILIPPINE STAR/ MICHAEL VARCAS © Provided by BusinessWorld The Philippines’ gross domestic product (GDP) fell by an annual 4.2% in the first quarter. — PHILIPPINE STAR/ MICHAEL VARCAS THE PHILIPPINE economy contracted more than expected in the first quarter, extending the  recession to five straight quarters as the pandemic dragged on, data from the Philippine Statistics Au...

BusinessWorld May 10, 2021 | 12:33 am Reporter THE CENTRAL BANK is widely expected to keep policy unchanged when it announces its decision this week, amid uncertainty over the pandemic and its impact on economic recovery, a BusinessWorld poll of analysts showed. A BusinessWorld poll held last week showed 15 out of 17 analysts are of the view that the Bangko Sentral ng Pilipinas (BSP) will maintain its overnight reverse repurchase rate or the key policy rate at a record low of 2%. Analysts said the scope for interest rate adjustment is limited as inflation continued to excee...

BusinessWorld May 7, 2021 | 12:33 am PHILIPPINE STAR/ MICHAEL VARCAS THE PHILIPPINE economy likely remained in a recession in the first quarter, as domestic consumption continued to be sluggish amid the prolonged health crisis. ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in a note on Thursday that first-quarter gross domestic product (GDP) may have contracted by 3.5%, much faster than the 0.7% slump recorded in the same period last year. “Domestic consumption remains one of the key sectors of the economy (roughly 70% of total GDP) and we expect this s...

BusinessWorld May 6, 2021 | 12:34 am The consumer price index rose 4.5% year on year in April. — PHILIPPINE STAR/ MICHAEL VARCAS INFLATION remained stable in April, while core inflation eased to a five-month low, leading economists to expect the central bank to keep rates on hold at next week’s policy-setting meeting. Preliminary data from the Philippine Statistics Authority released on Wednesday showed the consumer price index rose by 4.5% year on year last month, unchanged from March but faster than 2.2% in April 2020. This as price increases for food staples such as ri...

By Researcher INFLATION eased in March after five straight months of acceleration, as food prices increased at a slower pace, the government’s statistical agency reported on Tuesday. Preliminary data from the Philippine Statistics Authority (PSA) showed headline inflation at 4.5% in March, slowing from the year-on-year rate of 4.7% in February. However, this was still above the 2.5% recorded in March last year. The latest headline figure is lower than the 4.8% median in a BusinessWorld poll conducted late last week and falls within the 4.2%-5% estimate given by the Bangko Sentral ng Pilip...