Retail Sales in Philippines

Philippines Retail Sales | Economic News & Forecasts

Philippines - Retail Sales

The economy is expected to have fallen into a sharp recession in the second quarter due to the Covid-19 pandemic. Exports recorded another sharp contraction in May, the third month of double-digit falls, amid the global downturn. Moreover, in Q2, manufacturing production fell by over 40% and the unemployment rate skyrocketed to a record high. On a brighter note, the manufacturing PMI rose notably in June, suggesting that the sector may have restarted somewhat thanks to a partial reopening. That said, a sharp rise in cases since the 1 June loosening of restrictions threatens the recovery ahead: In July, the government imposed another two weeks of partial restrictions in the capital region to curb the spread and is considering tougher measures if necessary. Meanwhile, the government is planning a record USD 86 billion budget for 2021 to revive the economy.

Philippines - Retail Sales Data

2015   2016   2017   2018   2019  
Retail Sales (annual variation in %)-57.3  102  49.0  12.4  -     

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Philippines Facts

Value Change Date
Bond Yield4.44-4.11 %Dec 27
Exchange Rate50.660.02 %Jan 01

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