Philippines: Country Economic Forecast: 04 Jan 2012

Oxford Economics
January 4, 2012
10 Pages - SKU: OFE6748140
Countries covered: Philippines

GDP rose 3.2% on the year in 2011Q3 and 0.7% on the quarter. Private consumption and investment provided support to growth, but government consumption and exports both fell on the quarter. On an output basis, agriculture was the main drag in Q3, while industry rose 1.6% on a seasonally adjusted quarterly basis and services grew 0.7%. Our forecasts have been lowered slightly in recent months because of the weakening global outlook - GDP is expected to grow 3.7% in 2011 and 4.7% in 2012. Early estimates suggest the economic damage from the recent typhoon will be fairly limited, although relief efforts are likely to result in higher government spending. Export data in US$ terms for October showed some improvement relatively to an extremely weak performance in September but the outlook for exports remains poor given the likely weakening in demand in the developed world. Remittances are also likely to grow at a slower rate, which will result in more subdued growth in consumer spending than in 2011. At its December meeting, the central bank left interest rates and reserve requirements unchanged. But it indicated that it might cut rates in early 2012 if economic conditions deteriorate further and the jump in October inflation proves to be temporary. And the fall to 4.7% in November inflation suggests that there may be room for the bank to cut rates.



More International Trade reports by Oxford Economics

Country Economic Forecasts - Gabon by Oxford Economics
Gabon’s economy is estimated to have expanded by 5.9% in 2013 and a broadly similar pace (of 5.6%) is expected this year. Growth has been ...
Country Economic Forecasts - Cuba by Oxford Economics
GDP expanded by 3% in 2013 and we now expect growth of 3.6% in 2014, down from our previous estimate of 4%. Stronger tourism and ...
Country Economic Forecasts - Turkey by Oxford Economics
The economy expanded by 1.7% on the quarter in Q1, well above expectations. The growth was driven by net external trade, while private domestic demand ...
Country Economic Forecasts - Spain by Oxford Economics
Recent data show that the recovery has continued to firm in Q2, with Spanish industry increasing production by 4.3% in the year to April – ...
See all reports like this >>

More Philippines International Trade reports

International Strategic Analysis: Philippines - ISA Country Report by ISA (International Strategic Analysis)
International Strategic Analysis: Philippines - ISA Country Report - This report contains detailed forecasts and analysis for Philippines, including trade and investment analysis, economic forecasts, ...
Country Risk Service Philippines August 2014 Updater by The Economist Intelligence Unit
Country Risk Service is a comprehensive two-year forecasting service that monitors risks in 100 key emerging markets. It is designed for commercial bankers, institutional investors ...
Country Forecast Philippines August 2014 Updater by The Economist Intelligence Unit
Country Forecasts focus on the key factors affecting a country's political and economic outlook and its business environment five years ahead. Each report covers an ...
Country Report Philippines August 2014 by The Economist Intelligence Unit
Country Reports analyse political and economic trends in featured countries. They show you exactly how national, regional and global events will affect your business in ...
See all reports like this >>

More Philippines reports

D&B Country RiskLine Report: The Philippines by Dun & Bradstreet Inc.
This D&B Country RiskLine Report will help you analyze the risks, opportunities and likely payment delays when doing business in this country. It includes ...
D&B Country Report: The Philippines by Dun & Bradstreet Inc.
D&B Country Report. Comprehensive information for evaluating risks and opportunities when trading or investing in this country. Providing critical information and analysis on ...
See all reports like this >>

 

SELECT A LICENSE

    Online Download  USD 175  
    Global Site License  USD 438  
 
US: 800.298.5699
Int'l: +1.240.747.3093
 

Share this report


    Other tasks

     
     
    Join Alert Me now!
    Receive bi-weekly email alerts on new market research

    Sign up today!