News

Philippine Economic Growth Slows to 7.4% as Inflation Bites

Consumer spending fell 2.7% in 2Q versus prior quarter Slower growth puts central bank’s tightening pace in spotlight The Philippines’ economic expansion was slower-than-expected in the second quarter as the fastest inflation in almost four years hurt consumption, which is a key growth driver.  Gross domestic product grew 7.4% in the three months through J...

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PH economy to hit 7% GDP this year

  DESPITE the effect of rising fuel costs on consumer demand, the new chief of the central bank is optimistic that the Philippine gross domestic product (GDP) growth would reach at least the lower end of the government's objective this year. "It will be difficult to match 8.3 percent [economic growth] in the first quarter because of higher base effects. But at the same time, I...

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