Philippines GDP Growth Rate YoY
The Philippines' largest industry, services, accounts for 57% of the country's overall GDP. Trade, repair of motor vehicles and household goods which account for 17% of total GDP are the most important segments within services, followed by real estate, renting and business activities (11%), transport, storage, and communication (8%), financial services (7%), public administration, defense, and social security (4%). In terms of GDP, the industrial sector accounts for 31% of the total. Manufacturing account for 22% of total GDP, with construction accounting for 5%, which are the most important segments in the industry. Agriculture account for the remaining 12% of gross domestic product.
A higher than expected figure should be seen as positive (bullish) for the PHP while a lower than expected figure should be seen as negative (bearish) for the PHP.
News (PHP)
Philippine Central Bank Holds Rate Steady
The Philippine central bank maintained its benchmark interest rate for the fourth consecutive meeting despite the rising inflation expectations. The Monetary Board governed by Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent, as widely expected. Previously, the bank had raised the rate by a quarter-point in October.
RTTNews | 24 days ago
Philippine GDP Expands More Than Forecast
The Philippine economy expanded more than expected in the fourth quarter driven by investment and household spending but the full year growth missed the government target. Economic growth moderated to 5.6 percent in the fourth quarter from 6.0 percent in the preceding period. However, this was better than the expected expansion of 5.2 percent.
RTTNews | 92 days ago
Philippine Central Bank Keeps Rate Unchanged
The Bangko Sentral ng Pilipinas kept its policy rates untouched on Thursday after an off-cycle rate hike in October and hinted at more tightening if required to steer inflation towards a target-consistent path. The Monetary Board, led by Governor Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent.
RTTNews | 168 days ago
