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PH economy shrinks 4.2 percent in 1st quarter but signs of recovery emerge

ABS-CBN News
Updated as of May 11 01:26 PM

The Philippine economy remained in recession, with gross domestic product contracting 4.2 percent in the first quarter, the Philippine Statistics Authority said Tuesday. Read more »

BSP to keep rates steady; economy remaining in recession: Reuters poll

Reuters
Posted at May 10 03:59 PM

The Bangko Sentral ng Pilipinas is expected to keep its benchmark interest rate at a record low on Thursday, after the economy likely contracted for a fifth straight quarter in the January to March period, a Reuters poll showed. Read more »

Philippine economy likely contracted 5 percent in Q1: economist

ABS-CBN News
Posted at May 10 12:38 PM

The Philippine economy possibly contracted again in the first quarter as the jobs market, demand, borrowing and other indicators remain "repressed," an economist said Monday.  Read more »

Indonesian economy shrinks for fourth straight quarter

Agence France-Presse
Posted at May 05 06:53 PM

Indonesia's economy shrank for the fourth consecutive quarter in January-March, data showed Wednesday, as the country's leaders struggle to overcome a recession wrought by the coronavirus pandemic. Read more »

ADB chief says investment in health, education to hasten economic recovery

ABS-CBN News
Posted at May 03 05:25 PM

Governments should spend more on education and the health sector to speed up recovery in the region, Asian Development Bank president Masatsugu Asakawa on Monday said. Read more »

US economy accelerates in first quarter, jobless claims edge lower

Lucia Mutikani, Reuters
Posted at Apr 29 08:54 PM

US economic growth accelerated in the first quarter, fueled by massive government aid to households and businesses, charting the course for what is expected will be the strongest performance this year in nearly four decades.   Read more »

IMF says PH economy could grow by 6.9 percent but warns of COVID-19 risks

ABS-CBN News
Posted at Apr 29 12:17 PM

MANILA - The International Monetary Fund has upgraded its Philippine economic growth forecast this year to 6.9 percent from 6.6 percent but warned of downside risks due to uncertainties brought by the pandemic.  Read more »

Philippine economy seen to grow by 4.5 percent 'or higher' in 2021: ADB

Jessica Fenol, ABS-CBN News
Updated as of Apr 28 11:37 AM

The Philippine economy is foreseen to grow by 4.5 percent this year and 5.5 percent in 2022, according to an Asian Development Bank report released Wednesday. Read more »

Developing Asia to recover strongly, but COVID-19 risks remain: ADB

Karen Lema, Reuters
Posted at Apr 28 08:45 AM

Developing Asia's economic rebound this year could be stronger than previously thought, the Asian Development Bank said on Wednesday, underpinned by expectations of a solid global recovery and progress on vaccines. Read more »

PH economy has time to grow up to 7.5 pct this year despite lockdowns: NEDA

Jessica Fenol, ABS-CBN News
Posted at Apr 26 12:54 PM

Socioeconomic Planning Secretary Karl Chua said it’s too early to change the forecast as the country still has 8 more months to catch up on growth.  Read more »

Recent COVID-19 restrictions likely to 'exert impact' on economy in Q1: BSP chief

ABS-CBN News
Posted at Apr 22 05:22 PM

The recent imposition of tighter COVID-19 restrictions in the NCR Plus bubble will likely have an effect on the economic performance in the first quarter of 2021, Bangko Sentral ng Pilipinas Governor Banjamin Diokno said Thursday.  Read more »

China's Q1 GDP grows at record 18.3 percent year-on-year as recovery speeds up

Reuters
Posted at Apr 16 10:38 AM

China's economy grew at a record pace in the first quarter, official data showed on Friday, expanding 18.3 percent from a year earlier as the recovery from the coronavirus slump accelerated. Read more »

Business confidence for first half of Q1, rest of year improves: BSP survey

ABS-CBN News
Posted at Apr 09 11:15 AM

Sentiments of business owners improved for the first half of the first quarter of 2021 and the next 12 months which indicates "greater optimism," the Bangko Sentral ng Pilipinas said Thursday. Read more »

What happens in an economic crisis? PH risks losing gains due to COVID-19 pandemic

Jessica Fenol, ABS-CBN News
Posted at Apr 08 04:56 PM

A deeper economic crisis can have a longer effect on an economy and could reverse gains in the past years, an economist said Thursday citing data from crisis that occurred in the past 2 decades. Read more »

Philippines lowers 2020 economic growth rate to -9.6 percent

ABS-CBN News
Updated as of Apr 08 04:09 PM

The Philippine economy contracted by 9.6 percent instead of 9.5 percent in 2020, according to the revised estimates released by the Philippine Statistics Authority on Thursday. Read more »

Pandemic sharpens inequalities and could fuel unrest, warns IMF

Agence France-Presse
Posted at Apr 02 09:11 AM

Poorest families have been hit particularly hard, and the damage to education could last for years, the International Monetary Fund said in a report. Read more »

COVID-19 as change driver: Pandemic pushed PH's digital transformation, says del Rosario

ABS-CBN News
Posted at Mar 26 12:05 PM

The coronavirus pandemic unveiled the Philippines' transformative potential to get rid of its "archaic" ways and to digitalize systems in the public and private sector, ex-Foreign Affairs Secretary Albert Del Rosario said Friday. Read more »

Dissecting Data: Foreign direct investments fall by a quarter

Warren de Guzman and Edson Guido, ABS-CBN News
Posted at Mar 11 02:44 PM

Three straight years of decline in FDI inflows indicate there are other reasons besides the pandemic why money isn’t flowing into a Philippine economy that averaged over 6 percent GDP growth in the years prior to the outbreak.  Read more »

First quarter GDP growth may still be negative, says BSP’s Diokno

ABS-CBN News
Posted at Mar 08 03:51 PM

Gross domestic product growth will likely remain weak in the first quarter, even negative, but there will be a strong rebound in the second quarter with the economy coming off a low base, the head of the Bangko Sentral ng Pilipinas said on Monday.  Read more »

China sets growth target of 'above 6 pct' for 2021

Agence France-Presse
Updated as of Mar 05 10:30 AM

China's leaders set an economic growth target of "above 6 percent" for 2021 on Friday, at the opening of the country's annual legislative session. Read more »