The Philippine Stock Exchange index (PSEi) declined in May for the fourth consecutive month, closing at its lowest level in over a year. The Philippine peso slipped to a 12-year low and international reserves declined in May. Exports declined for the third consecutive month while import growth accelerated strongly.Manufacturing activities significantly expanded in May, in line with strong consumer demand. High inflationary pressure persisted in May with inflation remaining above 4 percent. The government registered a fiscal surplus in April while both revenue and expenditure growth significantly accelerated. Unemployment eased but underemployment increased again in April.Consumer confidence increased in the second quarter of 2018 and business optimism remained steady.
Details
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Document Date
2018/06/01
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Document Type
Newsletter
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Report Number
127332
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2018/06/19
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Disclosure Status
Disclosed
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Doc Name
Philippines monthly economic developments (June 2018)
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Keywords
inflation; philippine peso; import growth; consumer demand; consumer confidence; expenditure growth; fiscal surplus; inflationary pressure; manufacturing activities; international reserve; direct purchase; core inflation; domestic liquidity; consumer expectation; consumer confidence index; national government revenue; emerging market asset; fuel price increase; interest rate hike; decline in agriculture; quality of job; import of goods; capacity utilization rate; high risk aversion
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Citation
Philippines monthly economic developments (June 2018) (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/417301529401244297/Philippines-monthly-economic-developments-June-2018