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Base effect-driven rebound expected in Q2; recovery path uncertain — poll cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.
PH economic slump to soften in Q1 poll enablePagination: false endIndex: Metro Manila (CNN Philippines, May 7) The Philippine economy was estimated to have remained in recession in the first quarter but with a contraction that is milder than three months prior. A CNN Philippines poll among 10 economists showed a forecast range of -4.5% to 2% for the gross domestic product (GDP) from January to March. This yielded an average projection of -2.82%, easing from -8.3% recorded in the last quarter of 2020. GDP measures the country s economic ouput in terms of goods and services in a given year. Market watchers mainly noted efforts to reopen the economy during the period, which ended with the government declaring once again tighter lockdown measures in a bid to curb the alarming spike in COVID-19 cases. ....
UPDATE 2-Philippine inflation hits 2-year high, limits room for more rate cuts reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
The Philippine economy may grow 7 percent next year after shrinking by 11 percent this year as mobility improves alongside the migration to digital platforms, Bank of the Philippine Islands (BPI) lead economist Emilio Neri Jr. said. BPI Philippines However, a full recovery to the same level of output as that prior to the coronavirus pandemic will not likely happen until 2022, the economist said. “With inflation inching higher, cutting the policy rate at this time would pull down real interest rates further to negative territory,” Neri said. Neri said the BSP had already done so much to support the economy, adding that additional rate cuts might only produce marginal benefits. ....
BPI forecast: GDP growing by 7%, jobless rate easing to 7% in 2021 inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.