News

OECD cuts global growth forecast as US-China tensions rise

Agence France-Presse
Posted at May 21 06:31 PM

The OECD on Tuesday cut its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the China-US trade war threatens to crimp global growth. Read more »

Palace confident economy will reach growth target for 2019

ABS-CBN News
Posted at May 10 12:35 AM

Now that the budget impasse has been resolved, Malacañang expressed confidence the Philippine economy will still reach the government target of 6 to 7 percent growth by the end of 2019. Read more »

Mexican economy shrinks in new president's first quarter

Joshua Howat Berger, Agence France-Presse
Posted at May 01 06:59 AM

Mexican President Andres Manuel Lopez Obrador got 2 troubling pieces of news Tuesday as the economy registered a surprise contraction in his first quarter in office and state oil company Pemex posted a steep loss.   Read more »

Remittances from overseas Filipinos grow at slowest pace in February

ABS-CBN News
Posted at Apr 17 12:02 AM

While one economist believes the trend is not yet worrying, it highlights the need for the country to look for other drivers of growth. Read more »

Global economy cooling, coordinated stimulus may be needed -IMF

Jason Lange, Reuters
Posted at Apr 10 07:24 AM

The global economy is slowing more than expected and a sharp downturn could require world leaders to coordinate stimulus measures, the International Monetary Fund said on Tuesday as it cut its forecast for world economic growth this year. Read more »

ADB cuts growth forecast for Asia amid US-China trade dispute

ABS-CBN News
Posted at Apr 03 11:35 PM

The Asian Development Bank downgraded its growth forecast for the Philippines, in step with dimmer economic prospects for developing Asia. Read more »

Paglago ng ekonomiya, posibleng bumagal sa Q1 2019

ABS-CBN News
Updated as of Mar 29 01:39 AM

Ito ay dahil sa pagkakaantala ng ilang proyekto ng gobyerno dahil sa 3 buwang pagkakaantala ng pagsasabatas ng 2019 national budget. Read more »

US fourth-quarter GDP revised down, profits weak

Reuters
Posted at Mar 28 08:57 PM

The US economy slowed more than initially thought in the fourth quarter, keeping growth in 2018 below the Trump administration's 3 percent annual target, and corporate profits failed to rise for the first time in more than two years. Read more »

First quarter growth 'likely trimmed' by budget impasse: Pernia

ABS-CBN News
Posted at Mar 26 05:08 PM

One of the country's economic managers said economic growth in the first three months of the year was likely to have slowed because of the delay in passing the 2019 national budget.  Read more »

Hyundai car sales up 16 percent in Jan-Feb

ABS-CBN News
Posted at Mar 15 04:21 PM

In February alone, it sold 3,715 vehicle units, Hyundai said in a statement.  Read more »

Economic managers warn of slower growth due to budget impasse

ABS-CBN News
Posted at Mar 13 11:27 PM

Economic managers warned the country could grow at its slowest pace in eight years if lawmakers don't resolve the impasse over the 2019 national budget. Read more »

Gov't lowers growth target to 6-7 pct amid budget delays

Reuters
Posted at Mar 13 09:00 PM

The Philippines on Wednesday lowered its GDP growth target for this year to 6-7 percent, instead of 7-8 percent, citing the impact of a delay in the approval from the legislature for this year's budget. Read more »

Filipino farmers worried over El Niño

ABS-CBN News
Posted at Mar 13 12:30 AM

Local agricultural production is expected to be hampered by the onset of El Niño. Read more »

US economy to see another strong year, recession unlikely: White House

Agence France-Presse
Posted at Feb 20 06:44 AM

The US economy should continue growing this year at the same pace seen in 2018, and there is only a very slim chance of recession, the chief White House economist said Tuesday.   Read more »

PH among nations 'more resilient' to US-China trade war: Moody's

ABS-CBN News
Updated as of Feb 15 10:46 AM

Public spending and consumption are the 2 domestic drivers of the country's gross domestic product (GDP) as compared to Thailand, Malaysia or Singapore, said vice president and senior sovereign risk analyst of Moody’s Investor Service Christian de Guzman. Read more »

UK posts slowest growth in six years as Brexit looms

Ben Perry, Agence France-Presse
Updated as of Feb 12 08:18 AM

The British economy grew at its slowest pace in 6 years in 2018, data showed Monday, as Brexit uncertainty grips the country and fears grow that Britain could crash out of the EU without a deal.   Read more »

Pernia confident PH will become upper middle income economy in 2019

ABS-CBN News
Posted at Jan 28 11:19 PM

Socioeconomic planning secretary Ernesto Pernia is confident the Philippines will become an upper middle income economy this year, even as the World Bank warned of global headwinds to growth.  Read more »

World Bank keeps 6.5 percent growth forecast on Philippines

ABS-CBN News
Posted at Jan 28 10:39 AM

Its estimates “are holding firm” despite uncertainties as the East Asia Pacific region shows “sustained and prolonged” growth, said World Bank senior economist Andrew Mason.  Read more »

Palace blames inflation for missing growth target

Dharel Placido, ABS-CBN News
Posted at Jan 24 03:51 PM

Malacañang on Thursday said soaring inflation experienced by the Philippines in the latter part of 2018 was to blame for the country’s missing its growth target for last year. Read more »

International tourist arrivals up 6 pct to 1.4 billion in 2018: UN

Agence France-Presse
Updated as of Jan 22 08:04 AM

The number of international tourist arrivals rose by 6 percent last year to 1.4 billion, according to an estimate published Monday by the World Tourism Organization.   Read more »