The Leading Economic Indicator (LEI) published by the National Statistics Coordination Board (NSCB) rose from a revised minus 0.031 points in the fourth quarter of 2010 to minus 0.012 points in the first quarter of 2011. The print represented an improvement over the previous reading when the LEI dropped by 0.026 points. Seven of the eleven components composing the LEI were positive, in particular, total merchandise imports and the exchange rate were top positive contributors. On the other hand, consumer price index and money supply were top negative contributors to the LEI. An improving LEI suggests that the economy is likely to maintain its robust pace in the first quarter of 2011, after expanding a strong 7.1% in the final quarter of 2010. Official first quarter GDP data will be available on 30 May. The government expects growth to remain within the 7.0 - 8.0% target in 2011.
Economy likely to maintain momentum in the first quarter
February 10, 2011
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Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.