The Leading Economic Indicator (LEI) published by the National Statistics Coordination Board (NSCB) fell slightly from 0.115 points in the first quarter to 0.103 points in the second. The print represented a deterioration over the first quarter reading when the LEI increased by 0.032 points. Only five of the eleven components composing the LEI were positive. In particular, merchandise imports and wholesale prices pushed the indicator upwards. On the other hand, terms of trade and the number of new businesses dragged the LEI downwards. A deteriorating LEI suggests that the economy may slow in the second 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.
Leading Economic Indicator predicts slowdown in Q2
March 31, 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.